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Insurance Regulation & Insolvency

Semmes’ attorneys represent a diverse client base with respect to insurance corporate and regulatory matters. Our attorneys deal regularly with the Maryland Insurance Administration and the District of Columbia Department of Insurance Securities and Banking concerning difficulties faced by insurance companies and agents with respect to acquisitions, market conduct examinations, complaints and investigations, rate filings, mandated coverage problems, cancellation and nonrenewal of both insureds and agents, withdrawal from lines of business, company and agent licensing, insurance holding company act compliance, forms approvals, antitrust issues and problems relating to surplus lines carriers. Our expertise includes property, casualty, life, health and credit insurance, as well as reinsurance, fidelity and surety and workers’ compensation.

Insurance Insolvency

The insolvency of insurance entities is often a confusing area for insureds, claimants against insureds, creditors and their counsel. Typically, creditors rights counsel is familiar with bankruptcy court and its special procedures. Insurance company insolvencies are specifically excluded from treatment under the Bankruptcy Code, however, with the result that insolvencies of insurers are controlled by an interlocking framework of state insurance insolvency and liquidation laws and laws providing for coverage of claims against insolvent insurers by state insurance guaranty funds.

Attorneys at Semmes are quite familiar with this area. We have represented several insurance guaranty associations in connection with both regulatory and claims matters. One of our principals has also been designated as the Special Deputy Insurance Commissioner of the District of Columbia for the purpose of liquidating several insolvent District of Columbia-domiciled insurers. That principal also served on the Task Force on Insurance Insolvency established by the Tort Trial and Insurance Practice Section of the American Bar Association and is a member of the International Association of Insurance Receivers.

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