Carlton Fields plays a dominant role in the specialized practice of insurance regulatory law and has extensive experience in the following areas:
Regulation
We regularly advise and represent life and health insurers, property and casualty insurers, reinsurers, specialty insurers, agents, managing general agents, third party administrators, and other regulated entities in connection with matters including:
- Approval of form and rate filings, and regulatory litigation to contest denials of form and rate submissions
- Applications for issuance of certificates of authority and other insurance licenses, and litigation to contest denials of licensure
- Applications for regulatory approval for acquisitions and changes of control
- Advise and represent insurers regarding approvals for exemptions from Form A requirements or disclaimers of control in Alabama, Arkansas, Florida, Georgia, Illinois, Kentucky, Louisiana, North Carolina, New York, Ohio, South Carolina, Tennessee, Texas, Utah, Vermont, Wisconsin, and Puerto Rico
- Approval of bulk reinsurance transactions and accredited reinsurer status
- Market conduct investigations and examinations, financial examinations, and regulatory litigation arising from them; investigations under the federal False Claims Act and its state law counterparts; and investigations under state and federal unfair trade practice laws and similar consumer protection laws
- Investigations and audits regarding Florida premium tax, retaliatory tax, corporate income tax, and sales or use tax
- License disciplinary proceedings
- Disputes concerning the validity or amount of residual market assessments against insurers, and premium and retaliatory tax assessments
- Disputes regarding the validity and constitutionality of legislation and agency rules adversely affecting entities regulated under insurance codes
- Trade secret and proprietary information protection in connection with insurance regulatory reporting requirements and in the course of rehabilitation or liquidation proceedings against impaired or insolvent direct insurers
Transactions
We routinely assist insurance clients with corporate transactions, including the formation or acquisition of insurers, corporate restructuring, portfolio transfers, sales or transfers due to insolvency proceedings, and sales of insurance agencies and brokerage firms. We also advise insurance clients on regulatory financial matters concerning surplus notes, administration of deposits, and the status of insurer assets, liabilities, and investments under state insurance statutory accounting statutes.
Legislative
We routinely help clients understand the political landscape before pursuing a strategy or policy position. We identify, track, monitor, analyze, and summarize legislative proposals and political and policy considerations, and can assess their impact on operations. We testify, draft legislation and amendments to legislation, pass or defeat legislative proposals, and use our extensive political relationships to advocate client positions.