Frederick Pomerantz focuses his practice on serving the corporate and commercial needs of highly regulated industries, with 30 years of experience representing insurance companies in transactional and related regulatory matters. Throughout his legal career, many insurance companies have come to rely on Fred not only as their client relationship manager but also as a trusted advisor to their board and management. 

Fred also has handled the organization and licensure of insurers, reinsurers, and related entities, including producers, risk retention groups, and risk purchasing groups. He has directed insurance company mergers, acquisitions, reorganizations, redomestications and divestitures, and U.S. branch domestications. 

Fred also has assisted with insurance product development; drafted policy wordings, reinsurance contracts, and cut-through endorsements; and prepared rate and form filings. On behalf of insurers and producers, he has attended regulatory hearings and meetings in Alabama, California, Florida, Indiana, Kentucky, Louisiana, New York, Oregon, South Dakota, Wisconsin, and other states. In addition, he has provided insurance regulatory guidance for insurance agents and retail and wholesale brokers and their directors and officers. 

A significant portion of his practice involves the counseling of Latin American, Asian, and French insurers and reinsurers with respect to insurance laws in all 50 states that impact their operations. He recently lectured to a group of visiting insurance regulators from the People’s Republic of China at a program sponsored by St. John’s College of Risk Management. Fred has provided counsel on U.S. investment laws, holding company compliance, online insurance transactions, and the applicability of the federal excise tax and/or federal tax treaties to policies of worldwide coverage issued by alien insurers and reinsurers. His practice has addressed changes in global and U.S. reinsurance collateralization rules, financial service integration issues, and proposed federal regulation of the insurance industry. 

Fred has served on the boards of directors of one life insurance company and two property-casualty insurance companies in New York. He is currently an At-Large Director of the Federation of Regulatory Counsel (FORC), a peer-review membership organization of only 150 insurance regulatory attorneys worldwide, and is a member of several of its committees, including the Member Admissions Committee, the Trade Organizations Committee, the Branding Committee, and the Executive Nominations Committee. He also serves as Chair of the By-laws Review Committee. Fred has also held prominent leadership positions with the Association of Insurance and Reinsurance Runoff Companies and the New York State Bar Association. He possesses an AV rating from Martindale-Hubbell.

A frequent author on insurance regulation and other topics, Fred has published articles in major insurance trade journals in the United States, Argentina, Japan, and the United Kingdom. He has organized seminars and webinars on a variety of topics, including e-commerce, automobile telematics (ownership of data and privacy issues), Superstorm Sandy, and federal insurance issues including the Nonadmitted and Reinsurance Reform Act, the role of the Federal Insurance Office in state and international insurance regulatory affairs, and the role of climate change on regulation of the insurance industry worldwide. Fred has been a guest speaker and panelist at meetings of the Federation of Regulatory Counsel, the Surplus Lines Law Group, and the Association of Insurance Compliance Professionals, and has lectured to clients around the world. 

Fred’s community involvement has included serving on the board of trustees of a prominent Great Neck, NY, religious institution. He has also been active in his local Boy Scouts troop and with the Great Neck Police Athletic League.

Representative Matters
  • Transactions involving insurers and insurance-related entities: 
    • Representation in the planning and formation of insurers, including life and property and casualty insurers and holding companies 
    • Representation of sellers and purchasers in stock purchase transactions involving insurance companies and affiliated companies 
    • Representation of sellers and purchasers in asset purchase transactions involving insurance producers 
  • Formation of insurance and insurance-related entities: 
    • Formation and registration of purchasing groups 
    • Formation of U.S. branches of alien insurers, life insurance, and property and casualty company subsidiaries in numerous states 
    • Domestication of a Canadian insurer’s U.S. branch and the merger of a new subsidiary into a large insurer 
    • Domestication of U.S. branches of Japanese insurers 
    • Working with Bermuda counsel in drafting of an information circular of a Bermuda mutual reinsurance company owned by U.S. college fraternities, in connection with secondary capital-raising 
  • Regulatory advice and corporate compliance: 
    • Representation of insurers and purchasers of insurers at Form A (acquisition/merger applications) hearings in California, Florida, Indiana, Kentucky, New York, Oregon, and Wisconsin 
    • Representation of a Japanese life insurer in its acquisition of a U.S.-based, publicly traded, insurance holding company
    • Assisting insurers in preparing and filing Forms A (acquisition/merger applications) and B (holding company registration statements) 
    • Representation of brokers and surplus lines brokers at disciplinary hearings in California, New York, and New Jersey 
    • Negotiating and drafting reinsurance contracts 
    • Counseling the owner of an Arizona captive insurer in connection with the sale of the captive and the transfer and assumption of its workers’ compensation policies 
    • Advising insurance companies and brokers on corporate governance issues (e.g., USA Patriot Act, Sarbanes-Oxley, privacy, money-laundering, Dodd-Frank Act) 
    • Representation of insurers in triennial examinations/audits, market conduct examinations, and enforcement matters 
    • Representation of insurers and other financial institutions regarding marketing and sales of insurance products, including use of internet-based advertising materials and online binding of policies 
    • Representation of financially troubled insurers, advising them as to options for overcoming impairment and/or corporate restructuring of their operations 
    • Advising a life insurance company with respect to the transfer of its business by means of a bulk reinsurance arrangement 
    • Advising financial institutions and holding companies on permissible insurance-related activities under the Bank Holding Company Act and state insurance laws 
    • Advising insurers on permissible investments under state regulatory statutes and applicable regulation; drafting investment guidelines for insurers 
    • Advising a credit life and health insurer on portfolio assumption of annuity contracts 
    • Providing advice on licensing and compliance with the multiplicity of state insurance codes and insurance department rules and regulations involving a broad range of regulatory questions in various states, issuance of insurance-related products by non-insurers, the prohibition against premium/commission rebates, and a variety of unfair trade practice issues 
    • Drafting insurance policies and endorsements 
    • Counseling on use of independent procurement as a valid business strategy for insurers 
  • Litigation and arbitration: 
    • Representation of reinsurers and cedents in arbitrations involving insurance regulatory and statutory accounting issues 
    • Advising an insurer in an insurance bad faith cancellation claim 
Honors
  • Martindale-Hubbell Peer Review Rating: AV Preeminent
  • New York Metro Super Lawyers, 2016
  • The Best Lawyers in America, 2017 (Insurance Law)
  • International Lawyers Directory
Professional Affiliations
  • New York State Bar Association: Former Chair, Committee on Governmental Regulations, Torts, Insurance, and Compensation Law Section; Member, Health Law Section
  • Federation of Regulatory Counsel, Inc.: Former Director, Northeast Region; Current At-Large Director
  • Association of Insurance and Reinsurance Runoff Companies (AIRROC): Member, Publications Committee 
  • Association of Insurance Compliance Professionals
  • New York Insurance Association (NYIA) 
  • Insurance Federation of New York (IFNY)
  • International Insurance Society (IIS) 
Admitted to Practice
  • New York
  • U.S. District Courts for the Eastern and Southern Districts of New York
  • U.S. Supreme Court 
Languages
  • French 
Education
  • Brooklyn Law School, J.D., 1979
  • Cornell University, M.A., 1975
  • City College of New York, B.A., magna cum laude, 1973 (Phi Beta Kappa)

 

Presentations/Publications