Norris W. Clark

Norris W. Clark focuses on insurance and insurer-related financial transactions, regulatory compliance, mergers and acquisitions, statutory accounting, reinsurance risk transfer, restructuring and corrective action plans. Norris has 31 years of experience in the California Department of Insurance, where he was responsible for all aspects of insurer financial regulation and monitoring. He chaired numerous task forces and working groups of the National Association of Insurance Commissioners (NAIC) from 1985 through 2004, including the Accounting Practices and Procedures Task Force, Statutory Accounting Principles Working Group and Emerging Accounting Issues Working Group.

Insurance: Corporate and Regulatory

Norris Clark has represented and assisted firm counsel in representing the following issues:

• Property/casualty, life, and health insurers on diverse and wide-ranging matters
• Insurer formations
• Insurer and agents licensing
• Holding company transactions
• Acquisitions and sales
• Accounting disputes
• Reinsurance

Norris has advised clients on matters unique to his consulting practice, including:

• Writing insurance statutory accounting position papers for clients' use in addressing matters with their regulators and potential business partners
• Representing clients before the National Association of Insurance Commissioners (NAIC) to address accounting and financial oversight issues, and regulations relative to the implementation of Patient Protection and Affordable Care Act (PPACA)
• Participating in due diligence reviews related to financial, rating and market conduct insurance regulatory compliance

Mergers & Acquisitions

Recently, Norris has worked on the following transactions:

• Acquisition of large auto insurance group for $1.9 billion
• Acquisition of renewal rights for small market commercial insurance business
• Acquisition of non-standard auto insurer for $750 million