Our insurance/reinsurance dispute resolution team includes a deep bench of former federal prosecutors and other government officials, seasoned trial lawyers, each with dozens of trials and arbitrations under their belts, and a corps of appellate specialists with a resume of Supreme Court and other appellate experience that is second to none.
While we often take charge of a matter at the first sign of regulatory interest, clients also retain us near the culmination of an investigation to assess their litigation options, to vigorously defend against enforcement proceedings in court or before regulatory tribunals, or to negotiate favorable resolutions. Given our extensive experience with state attorneys general and state insurance departments as well as the US Department of Justice, Securities and Exchange Commission and the Office of Foreign Asset Control, we are able to defend all aspects of any criminal or enforcement action, from the onset of an inspection, examination or investigation through the grand jury stage, to the administrative proceeding, trial and appeals.
Mayer Brown’s highly experienced insurance/reinsurance dispute resolution team conducts thorough, insightful and discreet investigations and, where appropriate, identifies internal policies, procedures or practices relevant to the events, details steps that the company may take to prevent future occurrences, and recommends appropriate remedial actions. The members of our team, many of whom are former prosecutors, are versed not only in the techniques of conducting the investigation itself, but also in such critical matters as the voluntary disclosure guidelines of the US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), the strategic considerations arising from parallel government inquiries or private litigation, and communications with employees, auditors and insurance regulators.
Select experience in representing insurers and reinsurers in governmental investigations and internal reviews by our insurance/reinsurance dispute resolution partners includes the following:
- Representing one of the 20 major non-US reinsurers who have recently received a highly publicized inquiry letter from the notoriously aggressive New York Department of Financial Services seeking information about how these reinsurers will comply with the Iran Freedom and Counter-Proliferation Act of 2012.
- Represented Swiss and US reinsurance companies and individuals in the finite reinsurance investigations by the Securities and Exchange Comission and the Office of the New York State Attorney General.
- Represented the former CEO of a major reinsurance company in the highest-profile criminal case in reinsurance industry history.
- Completed an internal investigation relating to employee embezzlement.
- Advised in a matter in which a major financial institution is exposed to $1 billion under the US Anti-Terrorism legislation.
- Conducted an internal investigation for a leading investment and asset management institution regarding allegations of theft against one of its trust officers.
- Represented an issuer of variable life and annuity products in an internal investigation with respect to their market timing and late trading practices and procedures that were under examination by the SEC.
- Represented US property/casualty insurer under civil and criminal investigation by the Office of the New York State Attorney General and numerous other state governmental entities, and in the related class action and individual litigations alleging antitrust and RICO conspiracies.
- Represented US accident and heath insurer in an internal investigation with respect to compliance with ERISA law that was under examination by the US Department of Labor.
- Conducted internal reviews of two separate non- US life insurers’ sales activities.
- Conducted an internal review of a US insurer’s CAT claims unit.
- Conducted an internal review of a US commercial automobile insurer’s underwriting and rating units.
- Represented a title insurer in an internal investigation with respect to its broker compensation practices which were under examination by the Office of the New York State Attorney General.
- Represented workers’ compensation insurer in an internal investigation with respect to New York workers’ compensation law that was under examination by the Office of the New York State Attorney General.