Insurance distribution systems involve a myriad of different actors and intermediaries, including but not limited to retail brokers, wholesale insurance producers, adjusters, TPAs, and reinsurance intermediaries. In addition, program managers, also commonly referred to as program administrators, managing general underwriters or on certain occasions “non-statutory managing general agents,” often take on responsibilities and duties beyond the typical insurance broker and accordingly require nuanced legal and business strategies to achieve their desired goals.

The retail insurance brokerage market is often subject to heightened scrutiny under insurance regulatory principles, including compensation disclosure requirements, premium trust account obligations, state-specific individual and entity licensing, appointments, and the charging of policy fees, among many other issues. Many of these standards also apply to wholesale distribution systems, including program managers which must also ensure that all aspects of insurance programs, from their customer and carrier agreements, underwriting and claims processing, to customer service and compliance, are functioning efficiently and cohesively. Should insurance producers venture into the adjustment of claims or negotiation of reinsurance, many additional licensing and compliance obligations come into play. These issues are not only regulatory in nature but are also critical to any diligence exercise when considering the purchase or disposition of an insurance intermediary.

Our insurance-focused corporate M&A and insurance regulatory attorneys collaborate to handle many insurance intermediary transactions. As the following representative engagements demonstrate, this unique dual bench of insurance M&A and regulatory practitioners has earned the trust and confidence of many of the world’s largest insurance agents and brokers to handle all aspects of insurance intermediary M&A transactions.

In addition to our insurance M&A practice spanning both buyers and sellers of insurance intermediaries, we also provide detailed advice and counsel on insurance intermediary formation, licensing, compliance, corporate governance, and enterprise risk management. We also provide contractual assistance for insurance intermediaries, including negotiating broker, program administrator, TPA, MGA, and other similar agreements. We have a dedicated insurance paralegal team that manages insurance producer, adjuster, MGA, and TPA licenses and registrations nationwide, providing our clients an advantage with respect to licensing maintenance services by having dedicated paralegals and attorneys reviewing their licensing and related programs as well. By maintaining a structured and proactive approach, we help insurance intermediaries mitigate risks, enhance customer satisfaction, and achieve sustainable growth.

With more than 100 years representing the insurance industry, our firm’s Insurance Transactional + Regulatory attorneys have a deep understanding of the insurance market, risk management, and the regulatory landscape.