Waters, Paige D.

Paige D. Waters

Partner
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Paige Waters' practice in insurance and reinsurance law includes extensive experience handling transactional, regulatory and insolvency matters on behalf of national and international insurance and reinsurance clients. Paige represents a broad base of clients in the financial services and insurance industries, including life insurers, accident and health insurers, property and casualty insurers, health maintenance organizations, managed care organizations, mortgage and financial guaranty insurers, InsurTech companies, fronting carriers, captive insurers and reinsurers, service contract providers, producers, insurance receivers, banks, private equity and hedge funds.

Paige Waters' practice in insurance and reinsurance law includes extensive experience handling transactional, regulatory and insolvency matters on behalf of national and international insurance and reinsurance clients. Paige represents a broad base of clients in the financial services and insurance industries, including life insurers, accident and health insurers, property and casualty insurers, health maintenance organizations, managed care organizations, mortgage and financial guaranty insurers, InsurTech companies, fronting carriers, captive insurers and reinsurers, service contract providers, producers, insurance receivers, banks, private equity and hedge funds.

  • Paige has substantial experience in all aspects of insurance and reinsurance transactions, including:
    • Mergers and acquisitions
    • Corporate formations
    • Structuring and licensing
    • Subordinated and surplus note issuance and loss portfolio transfers
  • Advises clients on insurance transactional and regulatory matters nationwide, including:
    • MAWG multi-state and single state market conduct exams, financial exams, product and program development and implementation
    • Predictive modeling and data analytics in underwriting and rating
    • InsurTech regulatory issues
    • Corporate governance and related compliance issues
  • Paige also has extensive experience in:
    • Insurer, HMO and reinsurer run offs and receiverships, including director and officer
    • Voidable preference and fraudulent transfer
    • Troubled company and insurer insolvency actions
  • Paige conducts internal corporate reviews of insurers and receivers and advises clients in connection with fraud, anti-trust and statutory insurance violations
  • Assisted and advised international and domestic assuming and ceding insurers in reinsurance transactions, including:
    • Arbitrations
    • Letter of credit and collateral disputes
    • Assumptions of books of business
    • Pooling arrangements
    • Commutations
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CREDENTIALS
Education
  • J.D., Chicago-Kent College of Law
  • B.A., Miami University
Bar Admissions
  • Illinois
Professional Affiliations
    • Member, Association of Life Insurance Counsel
    • American Bar Association, Tort Trial and Insurance Practice Section (TIPS)
    • Member of Insurance Regulation Committee
    • Affiliate Member, Compliance & Ethics Forum for Life Insurers (CEFLI)
    • Member, IAIR
      • Education Committee
    • Member, INSOL International
    • Member, AIDA Reinsurance and Insurance Arbitration Society (ARIAS)
    • Former Member, AIRROC Publications and Marketing Committees
    • Former Member, Lex Mundi Insurance and Reinsurance Committee
    • Former Member, NAIC Receiver's Handbook and Model Act Revisions Working Groups
    • Former Member, National Association of Managed Care Regulators
    • Former Member, Interstate Insurance Receivership Commission - Law Advisory Committee
Awards & Recognitions
    • Named, Chambers USA, Insurance: Transactional & Regulatory (2005-2020)
    • Recognized, Legal 500, Insurance: Non-Contentious (2011)
    • Named, Illinois Super Lawyers®, Insurance Coverage (2009-2012)
Professional History
    • Former Senior Counsel, Office of the Special Deputy Receiver, representing Illinois Director of Insurance as the statutory receiver of insolvent insurers