We provide informed, practical advice on all manner of sophisticated regulatory matters. We manage financial regulatory agency relationships, assess legal, regulatory, enforcement and reputational risks, and resolve complex legal, financial, operational and strategic issues. Our comprehensive understanding of our clients’ businesses enables us to alert clients to risks or opportunities in other areas of their operations. In addition to our regulatory guidance, we develop strategies to reduce the risks of litigation and governmental investigation. However, when it becomes necessary, our experience and industry knowledge, combined with the diverse skills of our lawyers, allow us to vigorously represent our clients before trial and appellate tribunals, arbitration panels and regulatory bodies.

We represent clients in matters related to US state and federal insurance regulation, including licensing, holding company systems regulation, underwriting and rating of commercial insurance, policy working, financial and solvency regulation, insurer and broker relationships, responding to subpoenas, reinsurance and surplus lines eligibility, captive insurers, offshore insurers, alternative risk transfer products and mergers, acquisitions and changes of control, and conducting discreet internal reviews of complaints.


Select experience in insurance regulatory and enforcement by our Mayer Brown partners includes:

  • Numerous non-US insurance companies regarding the extent of business activities they are permitted to carry on in the United States, through the excess and surplus lines market and other non-admitted distribution channels.
  • Clients that were the subjects of various types of threatened or actual enforcement actions by state insurance regulators.
  • Multiple start-up insurance and reinsurance businesses in connection with the legal, regulatory, licensing, tax and accounting work connected with their formation.
  • A major US life insurance company in creating a combination of corporate structures and service contracts for the performance of a variety of support services from India. This outsourcing project was one of the first of its kind and scale in the insurance industry.
  • Financial institutions regarding the insurance regulatory risks associated with lending money to, and entering into derivatives contracts with, US insurance companies.
  • The American Council of Life Insurers, the life insurance industry trade association with more than 400 member companies in North America.
  • Several major insurance broker clients on regulatory requirements and disclosure best practices related to broker compensation.
  • Insurers and reinsurers in investigations  by the Securities and Exchange Commission and the Office of the New York State Attorney General into finite reinsurance, achieving a highly successful result for a major global reinsurer.
  • Numerous insurers and their affiliated banks and bank holding companies in connection with regulation by the Federal Reserve Board, the sale of insurance products through banks and compliance with anti-money laundering requirements and US sanctions laws.
  • A financial holding company, which owned banks and insurance companies, that sought guidance from the Federal Reserve on the scope of permissible activities for insurance groups under the Bank Holding Company Act.
  • Insurance companies in complying with Office of Foreign Asset Control regulations with respect to doing business with sanctioned countries and with AML compliance under US Treasury Department regulations.
  • Insurance groups on global compliance with the US Foreign Corrupt Practices Act.
  • Insurance companies on transactions with affiliated banks under US banking affiliate transaction laws (Section 23A of the Federal Reserve Act).
  • A major European insurer’s US subsidiary on product sales regulatory issues including coordination of and analysis for a global regulatory project.
  • Swiss and US reinsurance companies and individuals in finite reinsurance investigations by the Securities and Exchange Comission and the Office of the New York State Attorney General.
  • A major international investment manager in an internal investigation, Securities and Exchange Comission investigation, US Department of Labor investigation and subsequent class action, with both the Securities and Exchange Comission investigation and class actions settling favorably for the client.
  • An issuer of variable life and annuity products in an internal investigation with respect to its market timing and late trading practices and procedures that were under examination by the Securities and Exchange Commission.
  • 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.
  • 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.
  • Our team has also conducted internal reviews of two separate non-US life insurers’ sales activities, a US insurer’s CAT claims unit and a US commercial automobile insurer’s underwriting and rating units.