Overview
Beth Vecchioli's practice focuses on insurance regulation, lobbying, and financial service matters. She has extensive experience in the regulation of all types of insurance, reinsurance, and specialty insurance products. She assists companies in the development of their insurance offerings and products, including policy forms, contracts, and premium charges. She also routinely advises and guides insurance and financial services entities on compliance, sales, marketing, and business practices.
Beth also assists companies in obtaining licensure and in resolving regulatory issues in Florida and many other states. She secures licenses for insurance companies, captive insurers, agents, agencies, adjusters, reinsurers, third-party administrators, and various specialty insurers, including motor vehicle and service warranty providers and continuing care retirement communities. She also helps clients resolve regulatory disputes pertaining to investigations, disciplinary actions, examinations, and accounting disputes. Her client roster includes insurers, reinsurers, mortgage brokers and lenders as well as national technology companies.
She previously worked as a senior level manager and regulator at the Florida Department of Insurance/Office of Insurance Regulation for more than 10 years. In addition, she worked as a senior analyst for the Florida Department of Banking and Finance as well as a government consultant in the private sector, where she represented insurance and financial services clients before the Florida legislative and executive branches.
Beth drafts legislation for insurance and financial services clients and has effectively lobbied the passage of such legislation.
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Experience
Reinsurance Representations
- Issues relating to reinsurance recoverables and “clawback” provisions that apply during the receivership of an insurance company.
- Issues relating to reduced collateral requirements for reinsurance arrangements.
- Issues relating to “fronting” in unauthorized reinsurance arrangements.
- Issues relating to the Florida Hurricane Catastrophe Fund and how that interfaces with reinsurance programs.
- Legislative issues relating to reducing the size of the Florida Hurricane Catastrophe Fund.
- Issues relating to the proper statutory accounting methods for reinsurance agreements.
- Issues relating to the reimbursement contract used by the Florida Hurricane Catastrophe Fund and how it is applied to recoverables.
- Legislative issues relating to federal legislation to impose taxes on certain offshore reinsurance arrangements.
- Issues relating to the requirements imposed on property insurers for their reinsurance programs in Florida.
Insurance/Insurer Representations
- Represented a Florida domestic insurer before the Florida Office of Insurance Regulation in a complex insurance regulatory acquisition filing, which included numerous complicated legal documents and agreements.
- Represented a major insurance carrier before the Florida Office of Insurance Regulation in numerous rate filings, which allowed the carrier to continue to offer its insurance products in Florida.
- Developed and implemented a strategic compliance plan for a leading insurer in the United States, including securing form and rate filings approval from the Florida Office of Insurance Regulation.