Insurance Regulatory

Goldberg Segalla’s Insurance Regulatory Practice Group is uniquely positioned to handle any domestic or international insurance and reinsurance regulatory issue or transaction. Our resolution-based team approach is unique. We understand that our clients’ business need is primary. Our team has extensive experience in insurance corporate and regulatory matters (from property-casualty to life, accident, and health and annuities), including cross-border transactions. We bring the exceptional ability to bridge international gaps, thanks to our deep market knowledge and our firm’s experience serving clients in the U.S., Europe, Asia, Latin America, Bermuda, and other key markets. 

As a go-to firm for several of the world’s leading insurers and reinsurers, Goldberg Segalla provides invaluable insight related to the day-to-day regulatory issues facing the insurance industry and the most effective methods in addressing even the most complex regulatory challenges. Our team has a proven track record helping clients resolve issues before regulatory bodies, respond to inquiries or investigations, and maintain positive relationships with regulatory authorities.

Our combination of international experience, market savvy, and worldwide reach makes Goldberg Segalla particularly well suited to help clients implement successful regulatory strategies and navigate this highly nuanced environment. As widely recognized thought leaders in the global insurance and insurance arena, we regularly advise on emerging trends, legal issues, and the activities of state and federal insurance regulators, the National Association of Insurance Commissioners (NAIC), the International Association of Insurance Supervisors (IAIS), and other bodies that shape insurance regulatory policies.

Our services for various entities in this industry include:

Insurers and Reinsurers

  • Entity formation, including United States branches of alien (i.e., non-U.S. domiciled) insurers, as well as  structuring, sale, mergers, acquisitions, restructuring, reorganization, and dissolution of insurance and reinsurance companies
  • Regulatory filings associated with formation and change of control (i.e., restructuring, conversion, redomestication, etc.)
  • Licensing matters, including company formation, admission, expansion, and redomestication (e.g., preparing all corporate  and transactional documents and agreements and preparing and submitting Uniform Certificate of Authority Applications to all 50 states)
  • Guidance regarding the creation, approval, and marketing of insurance products, including application to and negotiation with appropriate authorities
  • Representation in connection with market conduct, resolution of consumer complaints, administrative hearings, and governmental inquiries and investigations
  • Representation concerning solvency and other industry modernization initiatives, such as the European Union’s Solvency II directive, the effects of the Nonadmitted and Reinsurance Reform Act and other applicable sections of the Dodd-Frank Act, the NAIC’s Solvency Modernization Initiative, the impact and nuances of the Patient Protection and Affordable Care Act, etc.
  • Advising on compliance with the McCarran-Ferguson Act, the NAIC’s Model Insurance Holding Company Systems Act, the Foreign Corrupt Practices Act, the UK Bribery Act, statutory investment and securities lending regulations, and antitrust laws
  • Advising on regulatory issues concerning the use of social media
  • Representation and counsel on transactions including portfolio transfers, assumption reinsurance, public and private financing, offshore structures, insurance-linked securities, etc.
  • Counseling on corporate governance

Producers and Other Insurance Intermediaries

  • Guidance concerning entity formation, licensing, mergers, acquisitions, and other transactions for insurance agents and brokers, managing general agents, reinsurance brokers, independent adjusters and third party administrators and excess and surplus lines brokers
  • Compliance advice regarding referral arrangements, limits on commission sharing, fiduciary requirements, anti-rebating laws, etc.
  • Representation with respect to licensing matters as well as consumer complaints
  • Defending errors and omissions (E&O) claims
  • Defending broker-dealers and registered representatives in Financial Industry Regulatory Authority (FINRA) arbitrations involving securities-related claims and with respect to FINRA disciplinary actions

Captive Insurance Companies

  • Developing creative risk-retention/transfer solutions and efficient risk-management programs, fueled by the knowledge of our team leader whose credentials include the Associate in Risk Management (ARM) and Associate in Captive Insurance (ACI) distinctions
  • Structuring and evaluation of captive insurance programs
  • Advising on licensing, approval, and other regulatory matters
  • Advising on captive-specific industry developments and pertinent legislation such as the Nonadmitted and Reinsurance Reform Act component of the Dodd-Frank Act, the Liability Risk Retention Act, the Terrorism Risk Insurance Act, and other government activity
  • Drafting policy language and developing claims-handling procedures