- Insurance & Reinsurance
- Regulatory & Transactional Services
|University ||Duke University, B.A., 1973|
|Law School||Duke University, J.D., 1976|
|Admitted||New Jersey; New York|
Insurance Federation of NY (President and Trustee)
American Bar Association
Assoc. of the Bar of the City of N.Y.
Federation of Regulatory Counsel
Int'l Assoc. of Insurance Receivers
|Born||Elizabeth, New Jersey, April 27, 1952|
Nick Pearson is a partner in the Insurance and Reinsurance Department at Edwards Wildman Palmer's New York City office. He has represented U.S. and foreign insurers, reinsurers and producers since 1977 and has served as outside General Counsel to licensed and surplus lines insurers. He has broad insurance regulatory and transactional experience in both life and property & casualty insurance and has represented clients in the formation, acquisition, sale and licensing of insurers, reinsurers, producers, captives and risk retention groups. Mr. Pearson has successfully represented cedents and reinsurers before industry arbitration panels and is experienced in commutations and the detailed analysis and preparation of reinsurance agreements and loss portfolio transfers. He has conducted international reinsurance fraud investigations and is experienced in run-off and insurer insolvency.
Mr. Pearson is the President of the Insurance Federation of New York. He has served on the New York Insurance Exchange Working Group, the Insurance Law Committee of the Association of the Bar of the City of New York, the Torts and Insurance Practice Section of the America Bar Association and various industry task forces.
Mr. Pearson has lectured on insurance and reinsurance in the United States, England and Bermuda and his articles have frequently appeared in leading insurance publications. He has testified before the Connecticut legislature on captive insurance regulation and co-authored chapters on Regulation of Market Conduct of Property Casualty Insurers in New York Insurance Law (Matthew Bender & Co., Inc.) and Insurance Regulation in Insurance Law Practice (New York State Bar Association). He also served for many years as pro bono legal counsel to the Business Council for the United Nations.
Mr. Pearson holds the AV Preeminent attorney rating from Martindale-Hubbell, signifying achievement at the highest level for legal ability and ethical standards. He is listed in the Legal Media Group Guide to theWorld's Leading Insurance and Reinsurance Lawyers. He is also featured inThe International Who's Who of Insurance and Reinsurance Lawyers, and has been named as one of the New York Area's Best Lawyers by New York Magazine. Additionally, Chambers & Partners Guides to the World's Leading Lawyers (USA) ranks Mr. Pearson as a 'Leading Individual' in their Insurance: Transactional and Regulatory category. He has also been listed in theBest Lawyers in Americapublication for his work in Insurance Law.
•Provided advice to domestic and non-U.S. insurers on all aspects of U.S. insurance and reinsurance regulation and jurisdiction, including market conduct and insurance holding company matters.
•Assisted clients in the formation of insurers and captive insurers and led multi-state and national licensing programs.
•Conducted reinsurance arbitrations on behalf of ceding and assuming companies arising out of disputes over material misrepresentation,ex gratia payments, declaratory judgment expenses, follow-the-fortunes and other causes.
•Represented clients in purchase or sale of active and shell insurance companies including due diligence, drafting of purchase agreements and related documentation and conduct of change-of-control hearings before insurance departments.
•Represented clients in run-off and commutations.
•Advised and represented clients in MGA transactions.
•Represented creditors in insurer insolvency proceedings and on creditor committees.
•Experienced in legislative drafting and registered lobbyist.
Documents by this lawyer on Martindale.com
Enterprise Risk Report For Certain New York Insurers Due April 30, 2014
Julie L. Mahaney,Nick Pearson, March 10, 2014
The New York State Department of Financial Services (the “Department”) recently proposed Regulation 203 (the “Proposed Regulation”) which attempts to assess the “enterprise risk” impacting New York authorized insurers and business risks disclosed by New York...
Vermont Enacts “Legacy Insurance Management Act” for Commercial Run-Off Business
Nick Pearson,Geoffrey E. Rosenblat, February 27, 2014
Vermont Governor Peter Shumlin has signed H. 198, titled the Legacy Insurance Management Act (“LIMA”), in an effort to attract new domestic insurance companies dedicated to run-off business in Vermont. LIMA allows for the formation of Vermont-domiciled insurance companies whose sole...
NAIC: Bermuda, Germany, Switzerland and UK Now Qualified for Reduced Collateral Requirements
Amber S. Mills,Nick Pearson, January 6, 2014
On December 18, 2013, the National Association of Insurance Commissioners (NAIC) approved four jurisdictions as "Conditional Qualified Jurisdictions," meeting its year-end goal for expedited review of certain jurisdictions. The four jurisdictions are Bermuda, Germany, Switzerland and the...
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