As an insurer or other regulated insurance entity, you can face investigations and enforcement from a wide array of sources.
In addition to those faced by every corporation, regulated insurance entities may also be subject to external investigations by insurance regulators or supervisors, and by US state attorneys general acting under the authority of unfair trade practices laws. Investigations can be highly disruptive and if mishandled, can lead to administrative, civil and criminal liability, not to mention reputational and commercial harm.
Our Investigations team includes lawyers who have deep knowledge about the insurance business, including the products, distribution, operating systems, accounting and regulation. Our large Insurance practice and interdisciplinary approach give our team insight into the enforcement trends and outcomes within the insurance sector – we can draw on this experience to help you resolve investigations and enforcement matters with the best possible outcomes.
We conduct internal investigations on a wide variety of issues, including market conduct, allegations of fraud, violations of the securities laws, and management integrity issues that can come from customers, regulators, employees and whistleblowers. We can assist you in evaluating whether and how to self-report, while helping to preserve positive regulator relationships and minimizing potential sanctions and civil liability. Finally, we carry out remediation exercises and establish procedures and protocols to prevent future occurrences - often coordinating internal and external cross-disciplinary teams as needed.
Many of our attorneys have worked inside the Securities and Exchange Commission (SEC), US Department of Justice (DOJ), Financial Regulatory Financial Authority (FINRA) and the UK’s Financial Conduct Authority or other regulators, and have insight into regulators’ expectations and approaches. A particular strength is advising seamlessly on multistate and cross-jurisdictional issues blending civil, criminal and/or regulatory law. Our emphasis is on advice that is rapid, astute, practical and commercially sensitive.