Insurance Regulatory

At Taft, we understand that the insurance industry operates in one of the most dynamic and heavily regulated environments in the world. Regulatory issues require a deep understanding of intricate laws, compliance frameworks, and the constantly shifting landscape of state, federal, and international oversight. Our Insurance Regulatory practice group guides clients through these complexities, offering tailored legal strategies to help you stay compliant, competitive, and ahead of regulatory challenges.

Our experienced attorneys deliver a full suite of services:

Regulatory and Compliance Advisory

• Advising Insurance Companies
  • Guiding insurers on licensing, expanding lines of business, market conduct, financial solvency requirements, and policy form approvals.
  • Counseling on state and federal insurance laws, regulations, and emerging requirements (cybersecurity, privacy, ESG, data protection).
  • Implementing and assessing risk management and compliance programs to ensure alignment with regulatory requirements.
  • Advising on new insurance product development, policy forms, endorsements, and rate filings.
• Regulatory Filings and Approvals
  • Assisting with rate and form filings, formation and licensing of insurance companies and entities, insurance producer licensing, and operational approvals in various jurisdictions.
  • Financial regulatory filings, including the Corporate Governance Annual Statement (CGAS), Form B, Form D, and Form F filings.
• Navigating Regulatory Changes
  • Offering strategic advice on adapting to state and federal regulatory developments.
  • Apprising of National Association of Insurance Commissioners (NAIC) and National Association of Insurance Legislators (NCOIL) matters.
  • Providing regulatory counsel for Insurtech firms and emerging technologies.
  • Providing strategic advice on adapting to evolving insurance regulations.
• Representing Insurance Departments
  • Providing legal counsel to state insurance departments on matters such as NAIC changes, market conduct examinations, licensing, and rate or policy reviews.

Strategic Business Counseling

• Market Entry and Expansion
  • Providing guidance on licensing, product development, and regulatory landscapes for new or expanded market operations.
• Product Development and Innovation
  • Advising on compliance for new insurance products, ensuring adherence to consumer protection laws.

Transactional Support

• Mergers and Acquisitions (M&A) Regulatory Compliance
  • Advising on due diligence, structuring, and regulatory approvals for M&A transactions involving insurance companies, including Form A filings, Form B disclosures, and Form D filings.
• Corporate Governance
  • Assisting with governance matters, including risk management, board structures, compliance with statutory requirements, corporative governance annual filings, and Form F filings.

Advocacy

• NAIC and NCOIL
  • Engaging with state and federal agencies, legislative bodies, NAIC, and NCOIL to advocate for client interests.
• Insurance Regulators
  • Establishing and maintaining connections with regulators, legislators, and stakeholders to influence policy and regulatory frameworks.
  • Collaborating with industry groups to shape policies that promote the interests of the insurance sector.

Regulatory Investigations and Reporting

• Regulatory Investigations
  • Representing clients during regulatory inquiries and advising on compliance while mitigating risks.
• Regulatory Reporting
  • Offering strategic counsel and representation during data breaches, regulatory enforcement actions, and assisting with other reporting to regulators.

Litigation and Dispute Resolution

• Dispute Representation
  • Representing insurers in regulatory disputes, administrative hearings, enforcement actions, and litigation.
• Alternative Dispute Resolution
  • Handling arbitration and mediation in coverage disputes, enforcement actions, and licensing matters.

Our practice combines deep industry knowledge with a client-focused approach to deliver practical, results-oriented solutions. Whether you are navigating compliance challenges, entering new markets, or managing regulatory disputes, our team is here to guide you every step of the way.