Insurance, Reinsurance & Risk Management

Culhane Meadows attorneys have extensive knowledge of, and significant experience with insurance issues in the transactional, regulatory, dispute resolution and litigation spaces.  We offer clients innovative solutions in a knowledgeable, effective and creative manner based on our many years of working in large law firms or in-house law departments of major insurers on transactions and projects such as those noted below.  We have substantial experience in guiding clients with issues relating to life insurance, individual and group annuities, professional liability, property and casualty, life settlements, premium finance, financial guaranty, title, and healthcare lines.

Our clients have included a broad range of industry participants such as U.S. and foreign insurance and reinsurance companies, special purpose vehicles, agents and brokers, investment banks, service providers, investors, service contract providers, and high net worth individuals/policyholders.  In addition, we provide targeted dispute resolution services to both insurance services providers and commercial clients who seek guidance in coverage disputes.  Our knowledge and familiarity with general corporate, derivative and securities law issues allows us to provide complete solutions for complex issues in a timely, cost-effective manner.

We also provide the highest quality dispute resolution and litigation representation to insurers, insureds, sureties, and reinsurers.  Our attorneys have litigated insurance and surety issues in federal and state courts and in various arbitration forums. For example, our attorneys have advised clients in matters including:

  • insurance fraud
  • bad faith and negligent failure to settle
  • duty to defend and duty to indemnify
  • excess carrier rights and obligations
  • pollution and other policy exclusions
  • the relationship between a carrier and an agency
  • ownership of and trade secret claims to a particular kind of coverage developed
    to pay for education of disabled children
  • Freedom of Information Law (FOIL) requests to the New York Insurance Department on regulatory issues
  • Adjacent neighbor liability for injuries said to arise from sidewalk defects
  • Punitive damage coverage issues for a captive of a major energy company

 Capital Markets

  • Monetization transactions for insurance companies such as funding for insurance assets including agent commissions, life settlements, premium finance assets and other non-liquid assets
  • Corporate funding transactions for insurance companies such as surplus notes, capital notes and other statutorily permitted instruments
  • Structuring of and investments in insurance-linked securities — catastrophe bonds and sidecar transactions covering a full range of natural perils and financing structures, Triple X, A Triple X, life insurance and annuity arbitrage bonds, mortgage-linked notes, weather-linked notes, residual value insurance, life settlement, premium finance funding transactions, embedded value and closed block transactions, and all attendant corporate, insurance, securities and regulatory documentation and negotiations
  • Life settlement and premium finance transactions for the full range of participants in the industry, including life settlement providers, intermediaries, financing entities, institutional investors and funds.  Services include: establishment and structuring of dedicated funds; development and multi-state filing of required seller facing life settlement documentation; service provider documentation and development of investor documentation; structuring, due diligence, documentation, and negotiation of sale and acquisition of life settlement and premium finance portfolios and financing facilities; regulatory compliance in life settlements and premium finance; and establishing the structure for an online platform designed to facilitate life settlement transactions

Insurance and Reinsurance Transactions

  • Reinsurance transactions of all forms, for on-shore and off-shore reinsurers, including handling credit for reinsurance issues, establishing qualifying reinsurance trusts and service agreements, negotiating agreements and obtaining regulatory approvals
  • Bank-owned and corporate-owned life insurance transactions
  • Develops entire risk management programs, interfacing with insurance brokers, analyzing corporate structure and relationships with business partners and others in the chain of distribution

Corporate Organization and Reorganization Transactions

  • Mergers, acquisitions of and investments in insurance companies in all lines of businesses, by U.S. and foreign acquirers, including compliance with U.S. and foreign regulatory requirements, either through stock transactions, asset purchase, combinations or reinsurance
  • Due diligence of intellectual property portfolios for insurance companies
  • Corporate restructurings, including spin-offs, divisions, divestitures, establishment of holding companies and other forms of corporate reorganizations
  • Establishment of onshore and offshore insurance and reinsurance companies, including captive insurers, transformers, special purposes vehicles, cell companies, series entities

Regulatory and Compliance Issues for Insurance Companies

  • Permitted investments for insurance companies
  • Risk-based capital requirements
  • Marketing and sales practices
  • Market conduct exams by state insurance regulators
  • Insurance insolvency and receiverships
  • Insurance and securities licensing and agent issues
  • Service contracts and extended warranties
  • Approval by state insurance department of new products and insurance forms
  • Establishment of compliance and control procedures and programs

Insurance Outsourcing

Culhane Meadows’ insurance partners work closely with our experienced team of outsourcing attorneys, for example:

  • Represented multi-national insurance companyin the outsourcing of its information technology infrastructure to IBM
  • Represented a multi-national insurance company in the comprehensive outsourcing of its information technology infrastructure to ACS
  • Represented a major multi-national financial services company in the comprehensive outsourcing of its human resources function

Litigation and Dispute Resolution

Working in collaboration with our experienced litigation team, we provide:

  • Analysis of insurance coverage issues for insurers, reinsurers, excess carriers and commercial insureds
  • Representation for insurers, reinsurers and sureties in coverage and other disputes with insured(s) or other carriers, including duty to defend, reservation of rights, duty to indemnify, cooperation clause compliance, and other issues
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