Practice Areas & Industries: Wilson Elser Moskowitz Edelman & Dicker LLP


Insurance Regulatory & Compliance Return to Practice Areas & Industries

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Practice/Industry Group Overview

The insurance industry is under increased scrutiny as it confronts complex and relentless challenges. With unprecedented dislocation in the financial markets, demanding regulatory initiatives and the need to manage risk in a less-than-benign economy, insurance companies require consistently strong and reliable legal assistance.

With more than three decades of related experience, our attorneys are well acquainted with the myriad regulations that govern the insurance industry and the policies and politics behind them.

Wilson Elser’s Insurance Regulatory & Compliance practice encompasses all segments of the insurance industry globally. With more than three decades of related experience, our attorneys are well acquainted with the myriad regulations that govern the insurance industry and the policies and politics behind them. Our practice attorneys offer comprehensive, purposeful and timely legal counsel to insureds, brokers and agents; reinsurance intermediaries; surplus line brokers; managing general agents; and insurers and reinsurers. We draw on the experience and nationwide resources of the entire firm and are in frequent contact with key state and federal insurance regulators.

We advise on the creation of insurance companies, the domestication of U.S. branches of alien insurers, and the re-domestication of U.S.-based insurers and reinsurers; qualification of excess and surplus line insurers; and formation and registration of risk retention groups and purchasing groups. We also guide insurance company demutualizations, mergers and acquisitions; reorganizations and spin-offs; and shell company purchases and sales.

Our Insurance Regulatory & Compliance practice carefully monitors regulatory bodies and advises clients on the unrelenting changes in licensing and regulation. This often includes assistance in preparing for compliance audits as well as counseling insurance agents, brokers, underwriting managers, managing general agents, third-party administrators, reinsurance intermediaries and consultants on the current regulatory landscape and its practical implications. We counsel these service providers and all of our clients on what constitutes unfair trade practices, their fiduciary obligations, and the implications of partnering with licensed entities and referral sources as well as which activities are and are not licensable by the states. Wilson Elser attorneys similarly advise on insolvency proceedings inclusive of rehabilitation, conservation and liquidation proceedings, and handle runoff of liabilities. When required, we also address the day-to-day compliance issues of business operations.

Firmly entrenched where government, business and law converge, and with offices strategically located around the country, Wilson Elser serves as a single resource for many of our insurance clients. Working in integrated, collaborative fashion, we draw on experience, intelligence and ingenuity to identify legal solutions that advance their business objectives.

Articles Authored by Lawyers at this office:

A Superstorm Sandy Retrospective: How the Actions of New York Regulators May Shape Responses to Future Natural Disasters
Carl J. Pernicone,Frederick J. Pomerantz,Stacey B. Rowland,Sandy M. Smith, November 05, 2013
A year after Superstorm Sandy came ashore, the New York Department of Financial Services (Department) issued Circular Letter No 8 of 2013 to inform New York licensed property/casualty insurers of the regulatory standards they should expect to encounter the next time a federal or state disaster...

Despite the Best of Intentions, Paving the Way for the Next Financial Meltdown
Frederick J. Pomerantz, August 24, 2013
At the Cannes Summit in November 2011, the G-20 Leaders endorsed the Key Attributes of Effective Resolution Regimes for Financial Institutions (‘the Key Attributes’) as the international standard for resolution regimes. As reported in Bloomberg Business Week on August 12, 2013 [C....