McDermott Will & Schulte, a global law firm

Our lawyers advise you on sophisticated transactions that support growth and innovation, including mergers and acquisitions, private equity investments, reinsurance arrangements, captive formations, restructurings, and alternative risk structures. We help you structure and execute complex domestic and cross-border transactions while navigating regulatory, operational, and risk transfer considerations that can shape how your business performs.

With deep knowledge of insurance laws and regulations, we guide you through regulatory frameworks involving state insurance departments, government healthcare programs, captive insurance regulations, and Employee Retirement Income Security Act (ERISA) compliance. We also advise on privacy and cybersecurity laws, insurance tax matters, and investigations involving state insurance regulators and the US Department of Justice (DOJ).

When you are faced with disputes – including complex coverage disputes, class actions, multistate investigations, and regulatory enforcement actions – our insurance lawyers develop practical legal strategies designed to manage risk, minimize disruption, and protect enterprise value.

We understand the factors that influence how companies throughout the insurance ecosystem manage risk, pursue growth, and remain competitive. Our insurance law practice helps you align your legal strategy with your business strategy. Whether you are pursuing strategic transactions, expanding into new markets, securing regulatory approvals, or defending against disputes, we partner with you to navigate complexity while supporting your business goals.

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• Represented a full-service insurance program administrator offering workers compensation, commercial lines and specialty property programs nationwide, with deep expertise in the California workers compensation market, in the sale of its business to an insurance company
• Represented the aviation industry’s leading source of general aviation insurance products and services, in the sale of its business to a US-based subsidiary one of the world’s largest providers of property and casualty insurance and reinsurance
• Represented a leading franchisor of non-standard auto insurance brokerages catering to the US Spanish speaking community, and its portfolio company, in the acquisition of a Texas-based independent insurance agency
• Represented a New Jersey-based specialty insurance underwriter, producer and third-party administrator, in the sale of its stock to a subsidiary of a leading national brokerage company
• Represented a leading national insurance brokerage firm, in the marketing and sale of Medicare supplement health insurance policies to a business outsourcing company owned by private equity funds affiliated with Blackstone Group, LP
• Represented a health insurance technology company and leading distributor of Medicare-related health insurance plans, as special regulatory counsel in its entering into a definitive agreement to be acquired by funds affiliated with private equity firm specializing in leveraged buyouts of privately held or publicly traded companies
• Represented a risk management firm in its sale to one of the world’s largest private insurance brokerage firms
• Represented a British multinational professional services firm that sells a range of financial risk-mitigation products
  • as special tax counsel, in its $30 billion merger with a leading global advisory, broking and solutions company
  • as special regulatory counsel, in the acquisition of a leading digital insurance platform for small and medium-sized businesses
  • as special regulatory counsel, in the sale of its technology-enabled benefits and cloud-based HR service platform for roughly $4.8 billion
• Represented an insurance intermediary and program management firm in its sale of an international claims, audit and risk management advisory firm
• Represented a specialty insurance intermediary, program management and risk advisory services business, in its acquisition by a national retail insurance brokerage and employee benefits consulting firm
• Represented the leading provider of loyalty enhancements for customers of banks and credit card issuers, as special regulatory counsel, in the sale of a provider of marketing and insurance administration expertise to financial institutions to an affiliate of a private equity firm focused on control investments in lower middle-market companies in North America
• Represented a private equity management firm in its acquisition of a national provider of specialty pharmacy, pharmacy management, pharmacy benefits management and third party administrator services

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• Represented a financial services company in its acquisition of a usage-based insurance (UBI) business; the deal remains subject to customary regulatory approvals
• Represented a leading digital insurance agency for small businesses in the sale of its business to one of the leading digital InsurTech companies transforming small business insurance
• Represented an insurance-focused digital wallet company on product and regulatory analyses
• Represented a digital insurance platform in all aspects of the launch of its US digital MGA platform
• Represented a digital Medicare advantage agency, in various transactional and regulatory matters
• Represented a New-York based private equity firm, as lead investor in the Series C financing round for an InsurTech company whose nationally available products integrate the procurement of homeowner’s insurance directly into the home-buying process
• Represented a Silicon Valley Bank-backed start-up focused on insurance for emerging companies, in all aspects of its launch in multiple states
• Represented a leading homeowner’s insurance and connected home MGA on various regulatory, data privacy, IT, e-commerce and transactional matters
• Represented a cyber insurance MGA, in various transactional, employment and regulatory matters
• Represented an online life insurance company providing term life insurance based on lifestyle and needs, in various agency agreements and other transactions, employment, regulatory, data privacy and cyber security matters
• Represented an online travel company that operates a website and mobile app with user-generated content, in an agreement to offer travel protection products throughout the US
• Represented various API, SaaS and other tech start-ups in transactions with re/insurers, intermediaries and others
• Strategic Risk Solutions, the world’s largest independent insurance company manager, in its partnership with Integrum Holdings, an investment firm focused on partnering with technology-enabled services companies in the financial and business services sectors
• USAA in its acquisition of InsurTech Noblr, Inc., a usage-based insurance business.
• IA Capital Group, a New York-based private equity firm as the lead investor in the Series C financing and subsequent follow-on round for Matic Insurance Services, Inc., an InsurTech, whose nationally available products integrate the procurement of homeowners insurance directly into the homebuying process
• Pathpoint, Inc., a digital insurance wholesale brokerage service provider, in its capital raise with investor Caffeinated Capital
• AP Integro in the sale of its business to Next Insurance, one of the leading digital InsurTechs transforming small business insurance
• Represented SiriusPoint, an international specialty insurer and reinsurer, in its strategic partnership and investment in Joyn Insurance, an InsurTech enterprise that underwrites commercial insurance in the small and middle markets
• Represented PG3 AG, a Swiss family office, in its Series B investment in Nsure, Inc., a digital insurance producer that empowers people to buy home and auto insurance hassle-free on their smartphones, tablets or computers in minutes
• Represented Team Focus Insurance Group, a property and casualty insurance firm with eight subsidiary businesses and almost 400 professionals, in its sale to PEAK6 InsurTech, a subsidiary of Chicago-based financial technology business PEAK6
• Assisted weSure Digital Insurance Services, Inc. with its investments from Technology Insurance Company Inc., a subsidiary of multinational insurance holding company AmTrust Financial Services, Inc., and weSure USA Holdings, Ltd., a subsidiary of Global Tech. This investment and collaboration will advance Global Tech’s expansion of weSure’s digital operations as a managing general agency into the US market
• Represented Tarmika, Inc., a commercial lines rating solution for small business insurance, in its acquisition by Applied Systems, a global provider of cloud-based software that powers the business of insurance
• Represented CHW Acquisition Corp. (NASDAQ:CHWA) in its deSPAC transaction with Wag Labs, Inc., a mobile technology platform that enables on-demand pet care service/industry pet insurance
• Represented Quote.com, a portfolio company of Osceola Capital, in its acquisition of Ring2Media Inc., a direct response marketing agency that specializes in Medicare enrollment
• Served as special regulatory counsel to Aon plc in:
  • The acquisition of CoverWallet, Inc., a leading digital insurance platform for small- and medium-sized businesses
  • The sale of its technology-enabled benefits and cloud-based HR service platform to Blackstone for roughly $4.8 billion
• Represented New Paradigm Group LLC in connection with its private capital raise from Transatlantic Reinsurance Company
• Represented Rhino Labs, Inc. in its formation and Series Seed Preferred Stock initial capital raise of $1.5 million with a prominent venture capital firm
• Represented a venture capital firm in its investment in a tech-enabled MGA specializing in wildfire-related risks and in the deployment of risk capital in a related reinsurance structure

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• Represented a digital health, primary care provider in responding an inquiry from the New York Department of Financial Services regarding licensing requirements
• Advised multiple insurers and producers on issues relating to insuring lawful cannabis-related businesses
• Represented a Korean re/insurer in establishing a presence in the US through a fronting arrangement and service company
• Represented various insurers in a multi-state investigation involving insurance programs offered to members of the National Rifle Association
• Represented a global insurance broker in various regulatory investigations, including pension risk transfer transactions, travel insurance claim handling, and placement of certain unique risks in the New York excess line market
• Represented a global insurance broker in a multi-state investigation of the travel insurance industry through the NAIC
• Represented a life insurance company in a 50-state branding and name change project and establishing a Delaware life and disability insurance portability trust
• Counseled various start-ups and established insurers and producers on InsurTech matters, including partnerships with digital retailers and other unlicensed persons
• Represented various insurers in a multi-state federal credit union life insurance product investigation
• Represented various insurers and brokers in structuring insurance and ancillary benefit programs for affinity and other groups and associations, including motor clubs, vehicle and other warranty and service contract programs
• Advised various re/insurers and brokers on cross-border transactions in the London, European and Bermuda markets and related “doing business,” reinsurance collateral and tax issues
• Advised a life insurer on various aspects of its international business platform

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• Represented an insurance company as special counsel, in the $175 million Series 2020-1 two tranche issuance of an insurance risk linked securities program
• Represented a Bermuda-based special purpose insurer in Series 2020-1 ($335 million; 3 year term) and Series 2020-2 ($365 million; 2 year term) Principal-at-Risk Variable Rate Notes
• Represented an insurance company as special counsel, in the $410 million Series 2016 three tranche issuances of insurance linked securities
• Represented a global investment bank and a Switzerland-based reinsurance company as initial purchasers, in an offering pursuant to Rule 144A of $200 million principal amount of Series 2017-2, Class A Principal-at-Risk Variable Rate Notes due June 5, 2020
• Served as special counsel to cedant (an insurance company) in Series 2016-1 and Series 2016-2 –
• Served as special counsel to the workers’ compensation insurer fund, in the issuance of its $210 million 144A catastrophe bond offering
• Represented an insurance company selling California earthquake insurance policies as special counsel, in the latest of its perennially sponsored catastrophe bonds
• Represented a $3.2 billion international multi-asset manager, in a variety of finance and capital markets transactions in the re/insurance market, including various privately issued senior unsecured financings and surplus notes
• Represented various investment management companies as underwriters’ counsel, on the Caelus Re V Limited 144A catastrophe bond offering of $450 million
• Represented a Florida-based managing general agency in connection with its private capital raise from a leading international reinsurance organization
• Represented several property and casualty insurance companies as underwriters’ counsel, in sponsored catastrophe bonds under the “Manatee” program
• Represented an insurance company selling California earthquake insurance policies Series 2018-1 Principle-at-Risk Variable Rate Notes

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• Successfully represented several entities of a top-tier health insurance company in an attempt from a group of healthcare providers to certify classes in a high-stakes Employee Retirement Income Security Act of 1974 (ERISA) lawsuit against eleven their clients. The named plaintiffs sought to represent a nationwide class of all healthcare providers (including physicians, hospitals, chiropractors, etc.) regarding claims that the defendants violated ERISA when they failed to provide proper ERISA-mandated appeal and notice procedures in recovering overpayments from health care providers
• Represented property and casualty business insurance company as lead trial and appellate counsel in a four-month jury trial and subsequent appeals addressing insurance coverage for thousands of breast implant liability claims
• Represented an international financial services provider in a six-week jury trial for its insurance contribution action against 17 co-insurers arising out of its settlement of a truck manufacturer’s asbestos and environmental liabilities nationwide
• Represented a Canadian multinational insurance company and financial services provider in one of the largest life insurance companies in the world on its acquisition of shares from Chinese shareholders and represented the company in several litigation cases and settlements
• Completed the comprehensive review and drafting of revised general liability and D&O policy forms for a property and casualty insurance company, with a focus on insurance coverage for sexual misconduct claims
• Served as lead trial counsel for insurers in coverage litigation arising out of pollution of the “Love Canal” in upstate New York
• Achieved a complete dismissal with prejudice of a class action complaint challenging the reorganization of a top-tier health insurance company from a nonprofit mutual insurance company into a for-profit stock insurance company. The plaintiff, a former policyholder, alleged that our client accumulated “excessive” surplus in contravention of its nonprofit status. The Court held that the claim was derivative in nature and that the plaintiff lacked standing to bring a derivative claim. The Court also held that the Florida ultra vires statute barred the action

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