Insurance

On the legislative front, our lawyers have represented the insurance industry on a wide variety of matters including The Terrorism Risk Insurance Act of 2002, The Comprehensive Iran Sanctions, Accountability and Divestment Act, and several insurance companies and trade groups on matters relating to the Dodd-Frank Act, including Title I (systemic risk), the development of Title V (creation of the Federal Insurance Office and the Nonadmitted and Reinsurance Reform Act), and Title VI (regulation of savings and loan holding companies and the Volcker Rule). In 2013 and 2014, our lawyers played a significant role in the enactment of the Insurance Capital Standards Clarification Act of 2014, which amended the capital provision of Title I of the Dodd Frank Act (the Collins Amendment) and provided relief to insurance companies subject to the regulation and supervision of the Federal Reserve Board as either a depository institution holding company or as a systemically important financial institution (SIFI) designated as such by the Financial Stability Oversight Counsel (FSOC). More broadly, Arnold & Porter lawyers have substantial experience advising insurance companies which own depository institutions, and in advising on issues related to potential designation as a SIFI by the FSOC, regulation by the Federal Reserve Board, and on issues arising under ERISA and state and federal securities laws in the structure and provision of their products and services.