Regulatory insight and transactional counsel for the insurance industry.
Colodny Fass advises insurers, MGAs, brokers, TPAs, reinsurers, investors, and other insurance-market participants on the regulatory, operational, and transactional issues that shape their business. Our team brings deep industry knowledge and hands-on experience working with the Office of Insurance Regulation (OIR), the Department of Financial Services (DFS), and regulators nationwide. We understand market conditions, emerging trends, and the legal frameworks that influence strategy and day-to-day operations.
Our work spans the full life cycle of an insurance enterprise — formation, licensing, compliance, governance, product development, transactions, examinations, and exit planning.
Insurance Company Regulatory Compliance
Our attorneys and consultants counsel insurers and insurance holding companies on the complex and often inconsistent legal and regulatory requirements that govern the business of insurance. We produce multi-state and federal compliance surveys and advise on issues such as:
- Use of credit in underwriting
- Privacy and data requirements
- Producer compensation
- Minimum capital and surplus
- Affiliated transactions, investments, dividends, and inter-company agreements
We work with company leadership to identify and address solvency or reporting concerns, and when needed, serve as a bridge with regulators to resolve issues efficiently while maintaining strong relationships. We also represent clients at National Association of Insurance Commissioners (NAIC) meetings and track developments with regulators nationwide.
Insurance Company Licensing
We structure and license new insurers and manage all aspects of multi-state expansion. Our team uses streamlined workflows, detailed state-specific checklists, and the electronic Uniform Certificate of Authority Application (UCAA) process where applicable. We identify issues early by engaging with regulators before filing, and we coordinate closely with company management throughout the process. Flat-fee options are available for predictable budgeting.
Mergers, Acquisitions & Complex Transactions
We guide clients through mergers, acquisitions, reorganizations, and strategic transactions within the insurance industry. Our work includes:
- Mutual insurance holding company reorganizations
- Assumption reinsurance transactions
- Renewal rights transactions
- Due diligence and regulatory approvals
- Drafting and negotiating transaction documents
We can serve as lead transaction counsel or integrate with a broader deal team, providing targeted support focused on regulatory considerations and industry-specific risks.
Financial Examinations & Market Investigations
Financial examinations and market investigations pose significant challenges for insurers. Our attorneys and former regulators provide insight into examination strategies and the risk-focused methodologies used today. We help clients:
- Prepare proactively before examinations begin
- Respond to exception memoranda
- Address issues raised in draft reports
- Resolve disputes through administrative appeals
We also coordinate with local counsel for multistate examinations when necessary.
Producer Licensing & Compliance
We advise producers on compliance with state and federal requirements. Our clients include retail and wholesale agencies, MGAs, IMOs, surplus lines brokers, and consultants. Our work includes multi-state and federal compliance surveys on:
- Compensation
- Privacy
- Contract requirements
- Premium trust accounts
- Licensing and tax compliance
- Surplus lines diligent effort
- Regulatory investigations
Service Provider Contracting
We draft, review, and negotiate third-party vendor and outsourcing agreements, including:
- Policy administration
- Claims handling
- Software and systems development and licensing
- Reinsurance agreements
- Managing general agent agreements
- Producer agreements
We help clients manage risk, maintain oversight, and ensure agreements comply with applicable regulatory requirements.
Insurance Product Review
We work closely with insurance defense litigators and OIR regulators to support policy form development and updates. Our team helps clients:
- Evaluate product changes to reduce exposure
- Prepare filings to minimize regulatory delays
- Represent companies in administrative proceedings when needed
Outside General Counsel
We provide outsourced general counsel services to insurers and holding companies without established in-house legal teams. This includes:
- Corporate governance structuring and counseling
- Drafting and maintaining corporate documents
- Board and committee support
- Contract negotiation and drafting
- Ongoing licensing and compliance management