Eversheds Sutherland (US) LLP

Insurance companies operate in a highly regulated industry and must continually develop new financial products to remain competitive. Our premier insurance products practice represents producers and distributors and counsels them on the myriad of legal and regulatory issues involving the development, distribution and administration of these products.

We advise on the regulatory issues involved in product design and negotiate and execute complicated distribution arrangements. We work with the entire spectrum of insurance companies and products. Our clients span the industry and include insurance companies of all sizes, as well as mutual funds, banks, other financial institutions, intermediaries, brokers and foreign-owned financial holding companies and their subsidiaries.

Our product design, distribution and outsourcing services include:

• advising upon new product design and compliance with insurance securities and tax requirements
• preparation of disclosure materials and filings with regulatory authorities
• marketing, distribution, product development, private label/white label, joint venture and claims handling agreements
• reviewing policy language and customer literature to ensure compliance with regulatory requirements
• cover holder agreements, binding authorities and appointed representative agreements
• outsourcing arrangements in the insurance sector
• advising upon sales scripts
• updating policy language to reflect regulatory developments
• advising on insurance distribution networks and insurance intermediation

Recent insurance product matters include:

• advising on compliance with local law and regulation for multi-jurisdictional roll-out of general insurance products
• legal advisor to Committee of Annuity Insurers (consisting of insurers representing 80% of the U.S. annuity business) on regulatory policy developments and advocacy with respect to new regulatory and legislative initiatives
• indexed universal life products — including analysis of securities status, development of compliant illustrations and marketing materials
• index linked variable annuities-including SEC registration and illustration compliance
• corporate-owned life insurance (COLI) and bank-owned life insurance (BOLI) — including policy forms, tax compliance, development of innovative funding options, preparation of offering materials.
• private placement variable universal life — including offering materials, Regulation D and tax compliance
• life insurance with long-term care features—including tax compliance, state regulatory and annuities filings and treatment
• use of life insurance in qualified plans and split dollar life insurance
• advising on group insurance policies (health, disability, death)
• advising a product platform on providing an ISA insurance wrapped solution for products sponsored by a life insurer

§  “Diversity at Sutherland Asbill & Brennan LLP” to “Diversity at Eversheds Sutherland (US) LLP”

§  “Diversity” section:

o   The firm’s emphasis on diversity is reflected in numerous ways throughout the firm, such as the manner in which we recruit lawyers and other employees, our work-life policies and our professional service efforts. We have been recognized for our achievements in diversity.  More importantly, we understand the significant role a diverse community plays in the firm's growth and development.

§  “Our Awards and Recognitions” section:

o   Eversheds Sutherland (US) LLP continues to be recognized for its efforts to promote diversity in the workplace and in the legal profession. In 2016 we were named a “Best Place to Work for LGBT Equality,” having earned a perfect 100 score on the Human Rights Campaign’s Corporate Equality Index, and we also were ranked a Top 100 Firm for Minority Attorneys by Law360. In addition, the firm was awarded the Gold Standard Certification for the fifth consecutive year by the Women in Law Empowerment Forum.

§  “Our Commitment” section:

o   Eversheds Sutherland (US) LLP is committed to promoting diversity within the firm and in the legal profession.  We believe that diverse skills, knowledge and viewpoints make us a stronger, more productive law firm.  We hire and promote qualified lawyers and other professionals regardless of race, color, national origin, religion, disability, gender, gender identity or sexual orientation.  We understand that diversity enhances our value to clients by allowing us to staff our client teams with professionals who possess broad experiences and a spectrum of perspectives.

o   Eversheds Sutherland (US) LLP has a cross-office Diversity Committee with responsibility for supporting and enhancing our firm culture.  Our committee has helped coordinate and lead a number of efforts to advance diversity within our firm and the community. Affinity groups at the firm serve as support networks for attorneys of color; women lawyers; and gay, lesbian, bisexual and transgender attorneys.

o   We are committed to working with our clients as they pursue the common goal of a professional workplace where opportunity is available to all.