In a climate of increasing complexity, commercial and captive insurers, risk retention groups and reinsurers face difficult legal and business challenges on a daily basis—from high-profile claims and disputes in the global spotlight, to state tax liability issues, to negotiating complex managed care contracts. These matters often involve a wide range of business concerns and legal needs, requiring advice that is multifaceted and nuanced.
That’s where we come in. Whatever challenges your organization faces, our tailor-built teams of cross-disciplinary lawyers bring their deep experience to bear in solving your most pressing problems across all aspects of the insurance markets, and beyond. Our core team has more than 35 years of experience working together in the insurance arena, allowing us to provide unmatched industry insights and ground-breaking solutions. We collaborate with our Firm’s market-leading health, tax, governance, environmental and litigation lawyers to deliver seamless results, eliminate roadblocks and champion your business goals regardless of geography.
Our insurance-related experience spans a broad array of industries and encompasses all areas of coverage, including:
In addition to disputes, our insurance and reinsurance lawyers offer pragmatic advice regarding:
Our service is global, ranging from robust experience with the NHS in the United Kingdom, to up-to-the-minute insights into China’s burgeoning insurance industry, to market-leading insurance coverage, captive and health practices across the United States. Thanks to our strategic alliance with MWE China Law Offices in Shanghai, we offer on-the-ground assistance navigating China’s evolving framework for foreign investments and for insurers seeking to enter China’s insurance markets.
McDermott’s insurance practice regularly receives top marks from Chambers USA, Benchmark Litigation and Legal 500 USA. In addition, McDermott’s health insurance and captive insurance formation, tax and governance partners are frequently cited as the United States’ best practitioners in their respective areas of the law.
We know your business needs are unique and require custom solutions. Our award-winning captive lawyers are true innovators in the structuring of alternative risk transfer mechanisms for all types of captives and risk retention groups in US and offshore jurisdictions, including Barbados, Bermuda, the British Virgin Islands and the Cayman Islands, among many others. We blaze new trails not only in the development and structuring of creative risk retention and transfer solutions, but also in the operation of efficient risk-management programs that fuel business performance by aligning economic incentives with loss minimization to lower the cost of risk. We were there as our clients formed the first healthcare captives. Our market-leading tax lawyers are thoroughly versed in the federal and state tax issues that captive insurers and risk retention groups face, and offer practical and effective tax controversy services to clients whose captive arrangements are challenged by the Internal Revenue Service.
We also collaborate with clients on the structure and operation of alternative risk financing mechanisms across diverse geographies and formats. Leveraging our extensive knowledge of stock, mutual and reciprocal formats, we combine our insurance, regulatory, federal and state tax, securities and litigation experience to optimize program structure and achieve tax-efficient and regulatory-compliant results. We handle loss portfolio transfers, novations and reinsurance of all sorts, as well as derivatives and structured reinsurance arrangements that allow capital market participants to take on risk.
Class action lawyers have become more sophisticated and aggressive in bringing national class actions against insurers. Our dedicated class action team defends health insurers in class actions brought by plan participants and providers. We also have extensive experience defending class action claims asserted under the Employee Retirement Income Security Act (ERISA) and offer clients the benefit of our intricate familiarity with this complicated area of law.
Working closely with our top-ranked health practice, we have our finger on the pulse of the ever-shifting relationships among health plans, participants and providers. Even as payment and reimbursement structures transform—under ERISA, administration changes and other regulatory initiatives—our class action defense lawyers help you stay ahead of the curve to mitigate evolving risks.
Commercial and captive insurance and reinsurance companies must grapple with complex federal, state and local tax treatment. Our premier tax team offers thought leadership in the wake of the Tax Cuts and Jobs Act of 2017, which amended or repealed a number of insurance tax provisions. Our tax team
also provides innovative, actionable tax planning and tax audit counsel, and represents clients in Internal Revenue Service administrative proceedings and before federal and state courts. We also advise insurance companies on applicable state taxes, including premium tax issues. We partner closely with captive insurers to navigate their complex state tax obligations, particularly in relation to the Nonadmitted and Reinsurance Reform Act of 2010.
Insurers in today’s healthcare market face unprecedented—and ongoing—disruption and transformation. As the top-ranked healthcare law firm in the United States, we possess robust experience in the health insurance sector.
Our lawyers have been at the forefront of efforts to create, restructure and advise on the full spectrum of issues related to managed care arrangements around the globe. We structure, draft and negotiate complex managed care contracts and arrangements with payors and providers, including cutting-edge commercial, Medicare Advantage, Medi-Cal, point-of-service, narrow network and other risk contracts, as well as bundled payments and a range of value-based contracts.
On the regulatory front, we assist health insurers in navigating regulatory compliance challenges, government investigations, government strategies and litigation arising out of their participation in government programs, including Medicare Advantage and Medicaid managed care, as well as requirements for participants in the Health Insurance Exchanges. We also assist health insurers with a broad array of issues facing their business, including compliance with healthcare laws related to patient privacy and security; implementation of cutting-edge technology solutions; and acquisition, operation and integration of their operations with those of healthcare providers.
Our lawyers successfully license and obtain change-of-control and other Knox-Keene license material modification approvals for full-service, specialized and restricted Knox-Keene Plans, including the negotiation of complex undertakings, and handle major enforcement, for-profit conversion, solvency and other compliance matters. We also have extensive experience advising on investments in UK healthcare and contracting with the NHS on health regulatory matters, including digital health, medtech, health IT, payment and structuring.
Our nimble, highly collaborative insurance litigation team represents commercial and captive insurers, risk retention groups and reinsurers in some of the United States’ most high-profile and contentious disputes. Drawing on decades of experience, we are always ready to roll up our sleeves and develop innovative solutions in your best interests, whether it’s strategic multiyear litigation or a timely settlement to save costs. Our team is top-ranked in numerous directories and received the Financial Times’s prestigious “Innovative Lawyers” award for its historic settlement of 10,116 In re World Trade Center Disaster Site Litigation cases against the City of New York and 140 of the City’s contractors brought by first responders, union workers, volunteers and others who participated in the rescue, recovery and debris removal operations at the former World Trade Center site on and after 9/11.
Our insurance coverage team crafted the largest settlement of Roman Catholic clergy abuse cases in the United States for longtime client Allianz; represented the liquidators of General Electric’s captive with respect to a $4 billion environmental claim involving sites in almost all 50 US states; recovered $228 million for a captive after winning summary judgment in its contribution action against certain London market insurers; and has handled many nine-figure disputes as first-chair trial and appellate counsel throughout the United States. Working with a New York-based insurer, we also created and help to administer the National Hockey League’s league-wide temporary total disability insurance program.
We stand ready to partner with you in negotiating and executing all types of insurance and reinsurance-related deals to further your business objectives. Our insurance lawyers work closely with the Firm’s transactions and private equity teams to conduct insurance due diligence and planning. We also negotiate, help place on the market, and handle claims and disputes arising from transactional insurance products, such as representations and warranties (R&W) insurance and tax liability insurance. We have handled dozens of recent deals in the R&W space and have a keen understanding of what policy terms to request upon placement to best protect our clients and to minimize, resolve and win disputes. We have served as insurance counsel for several tax liability policies with the highest limits ever placed in the United States, often with policy limits exceeding $500 million in a single placement.
A diverse, global network of industry-leading talent committed to you and your vision.
New York, NY / McDermott Event / November 14, 2019
Phoenix, Arizona / McDermott Event / October 28-29, 2019
Compliance Week / October 7, 2019
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Bloomberg Big Law Business / October 3, 2019
The Recorder / October 3, 2019
On the Move: Tracking the Ins and Outs of California Lawyers
ICLG / October 2, 2019
The Deal / September 27, 2019
Law360 / September 25, 2019
The American Lawyer / September 25, 2019
McDermott Adds 8-Partner Insurance Group From Drinker Biddle
Reuters / September 25, 2019
IN BRIEF: Drinker Biddle Loses Eight Insurance Partners to McDermott
New York / Press Releases / September 25, 2019
McDermott Expands Services In Insurance Industry; Provides Deeper Transaction Expertise In Niche ...
Artemis / September 23, 2019
Los Angeles / Press Releases / September 23, 2019
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