Reactions Names Goldberg Segalla Law Firm of the Year June 12, 2014
Goldberg Segalla has been named Law Firm of the Year by Reactions, one of the most prominent publications serving the global insurance and reinsurance industry. The award, presented June 11 at the Reactions London Market Awards Dinner, recognizes Goldberg Segalla’s innovative work on both sides of the Atlantic to reshape regulatory frameworks and create new opportunities for investment, as well as its team-first approach to handling high-value transactions, disputes, and regulatory matters for clients around the world.
“We are deeply honored to receive this award, especially from one of the most highly respected voices in the global insurance and reinsurance community,” said Thomas F. Segalla, a founding partner of the firm and the editor of the seminal U.S. treatise Couch on Insurance 3d, who accepted the award on behalf of the firm. “Exceeding the expectations of our clients is the ultimate goal for all of us at Goldberg Segalla, and to see that translate into recognition before such a prestigious international group is humbling.”
“From day one, Goldberg Segalla set out to challenge the status quo and change the prevailing model of providing legal services. We’re proud to see that reflected in this honor,” added Daniel W. Gerber, Co-Chair of the firm’s Global Insurance Services Practice Group. “The insurance industry, in particular, is facing unparalleled challenges. Our approach is driven by the belief that a law firm should deeply understand those challenges — the internal and external pressures affecting all its clients — and it should be a solution to those problems, not another source of stress. That is why our focus has always been on teamwork and building long-term relationships, rather than on meeting arbitrary annual billing targets. It has opened the eyes of many in the market who now see the difference our approach can make, and we’re proud to say it has resulted in accomplishments for clients that also helped effect positive change in the industry.”
Groundbreaking Legal and Regulatory Work
Over the past year, lawyers from the firm’s Global Insurance Services Practice Group have handled cutting-edge legal and regulatory work that profoundly impacts the market internationally. For example:
- Eleni Iacovides, a London-based partner, has worked closely with the Greek insurance marketplace to allow inward investment into the country’s insurance markets.
- Goldberg Segalla partnered with industry and governmental entities to aid in the passage of Vermont’s groundbreaking Legacy Insurance Management Act. The law enables a non-admitted insurer in the U.S. or abroad to transfer closed blocks of commercial insurance/reinsurance business with outstanding liabilities, together with the reserves relating to those liabilities, to Vermont-admitted insurers or other investors. This law, the first of its kind in the U.S., creates a legal, regulatory, and structural framework for these transfers.
Goldberg Segalla opened its London office in 2012 to be a bridge to and from the London Market for clients all over the globe. The firm built a team with several dual-qualified lawyers and unique practices to close international jurisdictional gaps and open a wider array of opportunity for clients.
Ms. Iacovides is dual-qualified in English and Cypriot law. Tanguy Le Gouëllec de Schwarz is dual-qualified in French and English law.
Ms. Iacovides, whose prior experience includes being the Managing Partner of the London office of an international firm and the U.K. General Counsel of a large international insurer, added, “We truly work as one unit, in total partnership across our U.S. and U.K. offices and with clients based all over the globe, to achieve results together that would not otherwise be possible.”
Adding to the firm’s unique international capabilities is Mr. Wrynn, the immediate-past New York Superintendent of Insurance, who leads its insurance regulatory practice. “The industry has responded to our cross-border strength, which is greatly enhanced by having Jim Wrynn on our team,” said Richard J. Cohen, Goldberg Segalla’s Managing Partner. “The respect he has gained in the international regulatory community enables us to represent our clients’ interests at a higher level — to handle particularly thorny, high-exposure issues before regulatory authorities throughout the United States and across the globe. Our clients have found that working with Jim opens new doors for them and gives them a distinct competitive advantage.”
The Reactions Law Firm of the Year award closely follows other high-profile recognitions for the firm and its Global Insurance Services team. For more information on these achievements, please see www.goldbergsegalla.com/who-we-are.