Insurance Practice
SGR attorneys have successfully represented a large cross section of the participants in the insurance industry at almost every level.
Whether the client is an insurer, reinsurer, agent or broker, and whether the matter is transactional, regulatory or litigation oriented, SGR has a team of lawyers with many years of successful experience. A more detailed summary of our expertise and success follows.
Regulatory. Because the business of insurance is highly regulated at the state level, insurers require attorneys who can navigate the hallways of the state regulators. SGR has done that. We have represented insurance companies in obtaining licenses to conduct insurance business in jurisdictions in which they are not licensed. We have sought and obtained favorable rulings from state insurance departments and have successfully litigated against them.
Corporate. We have formed insurance companies and advised them through the licensing process. We have represented insurance holding companies in the acquisition of insurance companies and obtained regulatory approval for the change of control of those companies. We have advised surplus lines insurers in connection with regulatory compliance requirements concerning their operations.
Agents and Brokers. We have represented retail agents and brokers, wholesale brokers and surplus lines brokers in connection with their regulatory compliance issues. Because the regulatory scheme applicable to agents and brokers differs from state to state, sensitivity to the jurisdictional variations is paramount. SGR is able to provide the necessary guidance to agents and brokers in regulatory matters.
Policy Creation and Analysis. We have drafted insurance policies and reinsurance contracts for insurers and reinsurers. We have also interpreted insurance policies for insurers and insureds and advised them with respect to coverage.
Reinsurance. We have handled disputes between insurers and reinsurers in both litigation and arbitration. We actively participate in the main reinsurance arbitration organization, ARIAS, and we are familiar with the other arbitration organizations governing reinsurance disputes.
Insurers and Agents. We have significant experience in representing insurers in connection with their relationships with agents and brokers. We have prepared agreements concerning the insurer’s relationship with producers, surplus lines brokers, third party administrators and vendors. And, if the arrangement sours, we have experience litigating on behalf of insurers to enforce the agreements with their agents and brokers.
Captives. We have experience in the formation of captive insurers, and in advising protected cell captive managers in connection with their business agreements. We have also represented protected cell captive managers in their disputes with their preferred shareholders.
Alternative Risk Transfer. We have advised reinsurers with respect to alternative risk transfer arrangements. In connection with those arrangements, we have drafted reinsurance agreements, retrocessional contracts, general agency agreements, insurance policies, Regulation 114 trust agreements and various other documents.
