Insurance Regulatory & Transactions

Jorden Burt's Insurance Regulatory and Transactions Practice Team counsels clients on the various state insurance laws, regulations and regulatory pronouncements and insurance and reinsurance transactions.

Regulatory Counseling

In providing our regulatory services, Jorden Burt draws on the experiences of its regulatory and litigation lawyers in advising clients with respect to:

• Insurance and financial product regulation, including product design, policy drafting, and regulatory approval
• Regulation of insurance marketing, sales and communication practices, including suitability and replacement
• Regulation of producers, managing general agents and underwriters and reinsurance intermediaries and insurer's contracts with these entities
• Insurance licensing and expansion of authority
• Insurer operations, investments and financial regulation, including solvency issues, including risk-based capital, reserve credit and SVO valuation issues
• Privacy, including HIPAA
• Responding to state regulatory inquiries as well as state enforcement actions and contested hearings
• Anti-money laundering

With the increasing regulatory scrutiny, the focus on compliance and risk assessments, and the growing coordination between the plaintiff's bar and regulators, Jorden Burt's lawyers, utilizing their regulatory and litigation experience, have assisted insurers and insurance related entities by:

• Conducting on-site internal investigations
• Providing exposure analysis of proposed changes in operations, various risks or potential insurance law or regulation violation
• Developing strategies or options to effectively mitigate risks or address any violations and
• Assisting in attorney general and insurance regulatory authority investigations, market conduct examinations and litigation proceedings

Jorden Burt counsels financial institutions developing and marketing innovative financial products. Our services include advising clients with respect to structuring and designing:

• A wide variety of financial products for retail customers such as annuities, life insurance and various health insurance products
• A wide variety of institutional products such as stable value contracts and collateralized fund obligations
• Employee benefit and other retirement products
• Unique products such as residual value and financial guaranty products

Transactions Counseling

Our business attorneys counsel clients on a variety of business arrangements including:

• Entity formation, licensing, and capitalization
• Reorganizations, recapitalizations, and liquidations
• Acquisitions and divestitures, including stock and asset purchases and sales of blocks of business and required regulatory filings and approvals
• Joint venture arrangements
• Mutual insurance company conversions

Our reinsurance transactions services include counseling with respect to:

• Structuring, negotiating, and drafting all forms of reinsurance agreements for life, annuity, health, and property and casualty products, including quota share, excess of loss, facultative, and assumption reinsurance agreements
• Loss portfolio transfers, sales of reinsurance blocks of business, and purchases and sales of reinsurance underwriting management companies
• Matters involving intermediaries and other industry participants, such as managing general agency, reinsurance intermediary, and general underwriter agreements
• Captive arrangements and other forms of alternative risk transfer
• Regulatory matters specific to reinsurance, including risk transfer analysis
• Run-offs and commutations
• Rights and obligations of reinsurers and liquidators in the insolvency and pre-insolvency contexts