Steve Herbert

Steve Herbert: Attorney with Eversheds Sutherland (US) LLP
  • Of Counsel at Eversheds Sutherland (US) LLP (439 Attorneys)
  • Grace Building, 1114 Avenue of the Americas, 40th Floor, New York, NY 10036-7703
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Biography

Steve Herbert counsels insurance and financial services companies and various insurance distributors-including variable and fixed life, annuity and health insurance providers-on the complexities of state insurance regulatory law. A member of Eversheds Sutherland (US)'s Financial Services Practice Group, Steve focuses on regulatory matters, including sales and market conduct, product development, preparation and filing, producer licensing and appointment, agent compensation, corporate governance, corporate transactions, business agreements, investments, claims, litigation and reinsurance.

Steve also advises in matters relating to forming, licensing, regulating and operating life insurance and annuity companies and their products-with a heavy concentration on New York law. Steve has been in private practice for more than 25 years. Prior to joining Eversheds Sutherland (US), he served as vice president, general counsel and secretary at a New York-based, 50-state licensed life insurance company. Steve was also general counsel for a New York state life insurance company trade association and assistant general counsel for a New York life insurance and financial services company.

Selected Experience

Advises clients on New York insurance law issues on pensions and retirement products.
Advised Verizon on the insurance aspects of its $7.5 billion transfer in pension obligations to Prudential.
Assisted in the design, regulatory approval and operation of several hundred insurance, investment and stable value products.

Publications

“Every state has regulations governing the design, approval, sale, advertising, distribution and administration of life insurance and annuity contracts, as well as insurance company governance. The rules are fairly complex and you’ve got to be sure the client’s entire business is in full compliance, especially if they operate nationally.”

Legal Alerts

Legal Alert: New York Proposes Best Interest Standard for Life and Annuity Sales Alongside NAIC Proposal for Annuities (January 4, 2018)
On December 27, 2017, the New York Department of Financial Services (NYS-DFS), the regulatory authority for the insurance industry in New York, published a proposal (New York Proposal) to add a “best ...

Legal Alert: NYDFS Makes Inquiry into Life Insurers’ Use of Algorithmic Underwriting (July 17, 2017)
On June 29, 2017, the New York Department of Financial Services (NYDFS) issued an information request pursuant to Section 308 of the New York Insurance Law addressed to all life insurers and ...

Articles

Regulation of Life Insurance Companies (2001)
Chapter in New York Insurance Law

Areas of Practice (4)

  • Financial Services
  • Insurance
  • Insurance Products
  • Insurance Regulatory and Compliance

Education & Credentials

Contact Information:
University Attended:
State University of New York at Albany, B.S., magna cum laude
Law School Attended:
Albany Law School of Union University, J.D.
Year of First Admission:
1975
Admission:
State and Federal Courts; 1975, New York; 1991, Connecticut
Memberships:

Professional Activities
Member, American Bar Association
Member, New York State Bar Association
Member, Connecticut Bar Association

Birth Information:
Ossining, New York, June 14, 1949
ISLN:
906534487

Peer Reviews

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Documents (2)

Documents by this lawyer on Martindale.com

New York, New York

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    New York, NY
    Grace Building , 1114 Avenue of the Americas, 40th Floor
    New York, NY 10036-7703

    212.389.5050 Phone

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