Zachary Lerner is a Partner in the New York office and is a member of the Insurance and Reinsurance Department. He maintains a general corporate practice with an emphasis on insurance regulatory, transactional and reinsurance matters. In particular, Zachary has represented insurance agents and brokers, insurance companies, reinsurance intermediaries, third party administrators, captives, special purpose vehicles and other related entities in connection with their needs, including, but not limited to: formation, licensing, regulatory compliance, advertising and filing matters. Zachary also works with both insurance and non-insurance entities on an array of transactional matters, including corporate filings and annual reports, mergers and acquisitions, affiliate transactions and stock and asset deals.
Prior to joining the firm, Zachary was an associate at Willkie Farr & Gallagher LLP in its corporate department, focusing primarily on mergers, stock and asset sales, reorganizations, private equity, bond offerings, entity formation, going private transactions and foreign issuers.
During law school, Zachary was a member of the Georgetown Journal of Legal Ethics and published an article in its Summer 2009 edition.
- Led the effort to incorporate and license a major New Jersey insurance agency, and continues to represent such agency with respect to its ongoing transactions, including potential acquisitions and intercompany agreements.
- Represented insurers, reinsurers and hedge funds in connection with investments in various insurance-linked products.
- Assisted in the acquisition of First Nonprofit Companies and Mutual Insurers Holding Company by AmTrust Financial Services. Zachary continues to represent AmTrust Financial Services with respect to on-going matters.
- Worked with regulators in all 51 domestic jurisdictions on various matters including, but not limited to: tax exemptions for entities, lines of authority, branch office requirements, sole proprietorships, designated producers for agencies, and surplus lines licensure requirements.
- Provided guidance on the mechanics of funding a trust account where a licensed, ceding insurer wishes to take credit for risk ceded to an unlicensed, unaccredited reinsurer, with a particular focus on the requirements of “Regulation 114” of the New York Codes, Rules and Regulations.
- Led the diligence effort and drafted ancillary documents and disclosure schedules in connection with an investment in insurance-linked securities of a fund managed by Pillar Capital Management Limited (“Pillar”) by Transatlantic Holdings, Inc. (a wholly-owned subsidiary of Alleghany Corporation), as well as additional investments in Pillar’s insurance-linked funds.
- Helped a prominent insurance agency interpret laws and regulations with respect to disclosure requirements and has guided such agency in its process to disclose applicable information to regulators, utilizing NIPR and NAIC databases in the process.
- Advised clients on material differences between the laws of various foreign jurisdictions as they relate to reinsurance capital requirements.
- Provided instructions to foreign charitable organizations on how to comply with New York regulatory requirements and what forms of insurance to procure.
- Advises major insurance entities regarding formation, company licensing, restructuring, and mergers and acquisitions.