Locke Lord is a premier provider of corporate, regulatory, arbitration, run-off and litigation services to the reinsurance industry. Many of the world’s most prominent reinsurers rely on the firm's depth, skill and expertise, and we are recognized internationally as a leader in the field. With nearly 50 attorneys who concentrate their practice in reinsurance, Locke Lord is uniquely situated to provide the full range of services our reinsurance clients require in this dynamic, challenging and competitive environment.
In 2011, Chambers: Client's Guide to America's Leading Lawyers for Business recognized Locke Lord as being one of the leading law firms in Insurance and Reinsurance with high national and state rankings in the areas of insurance: transactional and regulatory; insurance: dispute resolution (reinsurance); dispute resolution (insurer); and insurance: dispute resolution. Chambers noted that Locke Lord has "a strong insurance presence and reputation across the country" and "the group covers the full spectrum of insurance matters." Clients from various regions note "We value the team's depth of resources across the country and its multidisciplinary legal expertise."
Our Insurance and Reinsurance Practices are consistently recognized in national and international publications, earning frequent inclusion in Reactions magazine's annual survey and in The International Who's Who of Insurance & Reinsurance Lawyers list of leading U.S. Firms. The Practices also have earned a string of accolades from Chambers USA: Client's Guide of America's Leading Lawyers for Business, The Best Lawyers in America, The Legal 500 United States and Global Broker & Underwriter.
In addition, Locke Lord was also ranked as the No. 1 law firm in the United States by Global Broker & Underwriter magazine in its 2008 legal survey in reinsurance, regulation, litigation, policy drafting, corporate work (contracts, capital and mergers and acquisitions), and alternative risk transfer and insurance linked securities.
Industry ExperienceWe use our combined decades of experience and in-depth knowledge of the reinsurance industry to help our clients across the United States, in the United Kingdom, in continental Europe and in Bermuda anticipate and take advantage of industry trends and reposition, expand or downsize their businesses. Our attorneys are leaders in transactions, regulatory counseling and dispute resolution. We represent cedents, reinsurers, retrocessionaries, MGAs, intermediaries and buyers and sellers of insurance and reinsurance businesses based in the United States and throughout the world. Our attorneys represent clients in some of the largest and most complex contested and transactional engagements involving the property-casualty and life and health industries.
Reinsurance Transactional WorkWe have experience in designing appropriate reinsurance arrangements, including clash, contingency, alternate risk transfer, excess of loss, coinsurance, modified coinsurance and other sophisticated structures, as well as implementing various forms of collateral arrangements to provide security or comply with state laws and regulations governing financial statement credit for ceded reinsurance. Our practice includes major transactions involving assumption reinsurance, indemnity reinsurance and sale of renewal rights.
Representative Engagements—Reinsurance Transactions
Reinsurance Regulatory WorkWe are one of the few firms in the United States with a large group of corporate lawyers and regulatory specialists dedicated to, and with substantial experience in, insurance and reinsurance regulatory law. We routinely represent clients from all parts of the country and internationally, practice before each of the state insurance departments, counsel clients on all aspects of their operations and litigate in state and federal courts throughout the nation. We are active in various state and federal legislative matters and routinely participate in the programs and activities of the National Association of Insurance Commissioners (NAIC). In fact, one of our financial and regulatory specialists formulated the NAIC guidelines for risk transfer in reinsurance transactions. Another was part of the executive team at the New York Department of Insurance that approved the formation of Lloyd’s R&R.
We have represented government agencies in drafting insurance legislation and regulations. Our firm has been appointed as one of a few U.S. counsels for transactional/regulatory work for one of the world’s largest reinsurers. Our attorneys also assisted leading U.S. and European reinsurers in discussions with foreign insurance regulators to develop favorable terms of reinsurance regulation.
We form and capitalize domestic and offshore reinsurance companies. We counsel on licensing, TPA and MGA matters, accreditation and financial statement credit issues, security and collateral issues under reinsurance treaties (including statutory accounting issues), market conduct issues, use of terrorism exclusions, financial reinsurance/surplus relief issues, rights and remedies in the event of the insolvency of the cedent or reinsurer, use of cut-through endorsements and analysis of the enforceability of arbitration remedies in domestic and international reinsurance treaties. Our attorneys developed novel regulatory structures - used as the market standard for the last 10 years - to facilitate writing by non-U.S. insurers of reinsurance nationwide.
We have considerable experience in negotiating and obtaining regulatory approval of various forms of administration agreements and structuring and/or unwinding reinsurance pools involving affiliated and non-affiliated insurers and reinsurers. We have represented clients in the design and formation of offshore captive insurers, including single-parent captives, association captives and rent-a-captives. Our legal services include corporate, regulatory and tax advice concerning the formation and operation of these captives. In connection with federal income tax issues, we advise on the tax deductibility of premium payments, controlled foreign corporation (CFC) issues, and related person insurance income (RPII) issues, as well as what actions an offshore company can take and still not be deemed to be doing business in the United States for income tax purposes.
Representative cases include the following examples:
Litigation and Dispute ResolutionLocke Lord ranks as one of the leading providers of arbitration and litigation services to the reinsurance industry. Befitting the scope and focus of our practice, the companies for which we have provided reinsurance-related services are located internationally and are acknowledged industry leaders.
Clients seek our assistance in handling some of the most complex and highest exposure reinsurance disputes in the United States and abroad. We have extensive experience in both property and casualty and life and health reinsurance. We represent clients in cases addressing issues such as late notice, transaction-related purchase price disputes, rescission and misrepresentation, coverage disputes, reserve methodology and calculation disputes, the application of actuarial and statutory accounting principles, rights to reinsurance collateral, duty to disclose material change in risk, scope of ECO and XPL clauses, right of direct action against reinsurer upon ceding company’s insolvency, number of occurrences, salvage and subrogation, loss adjustment expense allocation, aggregation, net retained lines, premium disputes, follow the fortunes, claims cooperation, set-offs and right- to-associate clauses.
We offer comprehensive resolution services and, where a reasonable compromise cannot be achieved, provide our clients with aggressive and effective arbitration and litigation skills. Our extensive knowledge of and experience working with individual arbitrators and umpires on various issues enable us to provide clients with valuable insights into the strategic options for selecting a particular panel and presenting their case to the panel.
In keeping with the national and international breadth and diversity of this practice, we routinely arbitrate and litigate reinsurance disputes in various forums. We have handled numerous arbitrations and litigation matters (in both state and federal courts) in New York and in other locations throughout the world including Alabama, Arizona, Bermuda, California, Florida, Illinois, London, Massachusetts and Washington, D.C. Recent examples of the diversity of our litigation experience include the following:
Arbitrator Disclosure Requirements and Enforceability of Awards
2009 Reactions Legal Survey: Keeping the Lawyers in Check
Reinsurers' Rights in Insurer Insolvencies
2008 Reactions Legal Survey: Passing Judgement on the Lawyers
Some Thoughts on the Pre-Hearing Security Freight Train in the Run-Off Context
Locke Lord Adds Leading Insurance and Reinsurance Lawyer Ian McKenna as Partner in London Office
Locke Lord’s Nationally Recognized Corporate Insurance Practice Group Adds Two New Lateral Attorneys to its Chicago Office
Locke Lord Attorneys and Practice Areas Recognized for Excellence in Chambers USA 2011 Rankings
Locke Lord Insurance And Reinsurance Practices Are Honored Nationally And Internationally
Locke Lord Bissell & Liddell New York Partner Authors New Book on Reinsurance Law
Locke Lord Bissell & Liddell Receives Strong Rankings in Chambers USA 2009
Recognized NYC Reinsurance Attorney Steve Schwartz Joins Locke Lord Bissell & Liddell As Partner
Locke Lord Bissell & Liddell Receives Highest Rankings in Global Broker & Underwriter Magazine's 2008 Legal Survey
Locke Lord Bissell & Liddell Attorneys Recognized In The Legal 500 United States - 2008 Edition
Locke Lord Bissell & Liddell Receives Highest Rankings In Reactions Magazine’s 2008 Legal Survey
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