James Wrynn is the immediate-past New York State Superintendent of Insurance whose private practice now focuses on assisting insurers and reinsurers with the full range of their regulatory needs. With more than 25 years as an insurance-focused lawyer and wide recognition as a premier authority on domestic and global insurance regulation, he leads Goldberg Segalla's insurance regulatory practice, an international team that has extensive experience serving the U.S., Europe, Bermuda, and other key markets in regulatory matters.
As a representative and an adviser for clients in their relations with insurance regulatory authorities nationally and internationally, Jim provides insurers and reinsurers with an inside perspective and uniquely informed guidance through inquiries, investigations, regulatory compliance, licensing issues, and other critical matters and proceedings. Highlights of his recent work and successes include:
• Introducing a major international insurer and its presenters at a 2012 hearing before the National Association of Insurance Commissioners (NAIC)
• Testifying as an expert witness on regulatory and reinsurance issues
• Resolving efficiently in three months a regulatory investigation in which the client had previously spent tens of millions of dollars over the course of many years
His practice also includes advising on compliance and market conduct issues, the activities of insurance regulators across the globe, and the formation and regulatory aspects of captive insurance companies. He represents insurers and reinsurers in regulatory matters concerning compliance, solvency, and other regulation modernization initiatives. Jim is a registered foreign lawyer in the United Kingdom, and he serves on the board of an A-rated insurance company. His credentials include the Associate in Risk Management (ARM) and Associate in Captive Insurance (ACI) distinctions.
Before joining Goldberg Segalla, Jim served as the 40th and last Superintendent of Insurance in the State of New York until the Insurance Department merged with the Department of Banking to form the new Department of Financial Services. He then served as the first Deputy Superintendent of the new department. His accomplishments at the Insurance Department were praised by Insurance Advocate magazine, which in January 2011 saluted him for [making] his mark with innovations as New York's top insurance regulator as well as for his responsiveness, willingness to work with the industry, and genuine public service ethic. Prior to serving as Superintendent, Jim was the Executive Director of the New York State Insurance Fund, New York's largest workers' compensation and disability benefits carrier.
In addition to overseeing the state's supervision of all insurance companies that do business in New York, Jim played a key role in developing national and international regulations and policies governing the insurance industry. In 2010 he was elected Chair of the Northeast Zone of the National Association of Insurance Commissioners (NAIC), the organization of the chief insurance regulatory officials of the 50 states, the District of Columbia, and five U.S. territories. He also served as a member of the NAIC's Executive Committee, as Vice Chair of its International Insurance Relations G Committee, as Co-Chair of its Credit Rating Task Force, and as Vice Chair of the task force involved in a review of international developments regarding insurance supervision, banking supervision, and international accounting standards and their potential use in United States insurance regulation as part of a critical self-examination of the United States Insurance Solvency Regulation framework known as the Solvency Modernization Initiative.
Jim also represented the United States as a member of the International Association of Insurance Supervisors (IAIS), an organization of insurance supervisory authorities from nearly 140 countries that sets international standards for insurance regulators. He participated heavily in international issues such as Solvency II (an economic risk-based solvency regulatory framework to be utilized by all European Union member states); systemic risk (and the development of a methodology for the identification of globally systemically important financial institutions and the measures to be taken once identified); the development of a common framework for the supervision of internationally active insurance groups (known as COMFRAME); group supervision; and numerous other issues and initiatives.
• Martindale-Hubbell Peer Review Rating: AV Preeminent
• Top Rated Lawyer in Insurance Law, American Lawyer Media and Martindale-Hubbell, 2013
• New York Super Lawyers (Metro - Insurance)
• St. John's University: Member, Board of Overseers of the School of Risk Management, Insurance, and Actuarial Science; former member, School of Law Alumni Association Board of Directors
• Associate in Risk Management (ARM) - American Institute for Chartered Property Casualty Underwriters
• Associate in Captive Insurance (ACI) - International Center for Captive Insurance Education