Insurance Regulation & Licensing

McIntyre & Lemon: > Insurance Regulation & Licensing

Insurance Regulation & Licensing

Dealing with state insurance regulatory requirements in more than one state can complicate business objectives for insurance companies and agencies, especially those owned by, or affiliated with, a bank. Adapting your business practices to comply with these requirements is essential to minimizing risk and avoiding unnecessary government actions. From multistate licensing to expanding into new jurisdictions and product lines, clients rely on McIntyre & Lemon to assist them with the most challenging insurance laws, regulations, guidance, and industry best practices.

Our clients include bank-owned and bank-affiliated insurance agencies, InsurTech startups, insurance companies, third party administrators, managing general agents, surplus lines brokers, insurance consultants, insurance trade organizations, and credit card issuers partnering with insurance entities.

We regularly attend conferences and meetings of the National Association of Insurance Commissioners (NAIC), National Council of Insurance Legislators (NCOIL), and other industry trade associations to advocate on behalf of clients. This has enabled us to develop meaningful and extensive relationships with insurance regulators and better understand the legal issues affecting the insurance industry. Our attorneys regularly contribute to leading publications impacting the insurance industry, including authoring the American Bankers Association Handbook of Bank-Insurance Compliance and editing the treatise Insurance Activities of Banks (Wolters Kluwer).

Our Services

We assist clients with:

Licensing of Insurance Producers, Surplus Lines Brokers, and Other Insurance Professionals—Determining when state producer and surplus lines broker licenses are required
Compensation Arrangements—Counseling how to design a variety of producer and other compensation arrangements, including referral fee programs
Insurance Marketing and Sales—Evaluating and reviewing marketing programs and materials to ensure regulatory compliance
Review of Compliance & Risk Management Systems—Assisting businesses with developing and reviewing their compliance and risk management systems
Privacy & Information Sharing—Advising on privacy policies and information sharing arrangements
Government Relations—Engaging with state insurance regulators directly and through the National Association of Insurance Commissioners and with other governmental, industry, and trade associations
Defense of Enforcement Actions—Working with regulators in anticipation of enforcement actions and representing clients involved in enforcement actions
Cybersecurity—Helping clients navigate the growing inventory of complex cybersecurity laws and regulations
Captive Insurance Companies—Advising on the formation of captive insurance companies
Reinsurance—Assisting reinsurance companies with policy initiatives
Vendor and Third-Party Service Provider Agreements—Reviewing and negotiating banking and insurance contracts, including joint marketing, compensation, and service provider arrangements

Expertise

In providing counsel, we routinely assist our clients in navigating the following categories of laws:

Unfair trade practices
Restrictions on insurance advertising
Sales of insurance by depository institutions
Retail sales of variable insurance products
Cybersecurity and reporting of data breaches
Sales of insurance and annuities to servicemembers
Regulation of nonadmitted insurance
Privacy of consumer financial and health information
Licensing and regulation of insurance producers, surplus lines brokers, third-party administrators, consultants, and managing general agents.
Suitability of annuities

For more information on how we can help you navigate your regulatory and compliance challenges, contact us.

Insurance Regulation & Licensing

Insurance Regulation & Licensing

Our Services

Expertise

PRACTICE AREAS