Nick Pearson

Of Counsel
Baker & McKenzie LLP

Biography

Nick Pearson is of counsel in the Insurance Practice Group at Baker McKenzie's New York office and the president of the Insurance Federation of New York. He has served on the New York Insurance Exchange Working Group, the Insurance Law Committee of the Association of the Bar of the City of New York, the Torts and Insurance Practice Section of the America Bar Association and various industry task forces.

Nick holds the "AV Preeminent" attorney rating from Martindale-Hubbell, signifying achievement at the highest level for legal ability and ethical standards. He has been recognized in the Legal Media Group Guide to the World's Leading Insurance and Reinsurance Lawyers and in The International Who's Who of Insurance and Reinsurance Lawyers, and has been named as one of the "New York Area's Best Lawyers" by New York Magazine. Additionally, Chambers & Partners Guides to the World's Leading Lawyers (USA) has ranked Nick as a 'Leading Individual' in their Insurance: Transactional and Regulatory category and has been listed in the Best Lawyers in America publication for his work in Insurance Law.

Nick has testified before the Connecticut legislature on captive insurance regulation and co-authored chapters on "Regulation of Market Conduct of Property Casualty Insurers" in New York Insurance Law (Matthew Bender & Co., Inc.) and "Insurance Regulation" in Insurance Law Practice (New York State Bar Association) He also served for many years as pro bono legal counsel to the Business Council for the United Nations.

Practice Focus

Nick has represented US and foreign insurers, reinsurers and producers since 1977 and has served as outside general counsel to licensed and surplus lines insurers. He has broad insurance regulatory and transactional experience in both life and property and casualty insurance and has represented clients in the formation, acquisition, sale and licensing of insurers, reinsurers, producers, captives and risk retention groups. Nick has successfully represented cedents and reinsurers before industry arbitration panels and is experienced in commutations and the detailed analysis and preparation of reinsurance agreements and loss portfolio transfers. He has conducted international reinsurance fraud investigations and is experienced in run­off and insurer insolvency.

Representative Legal Matters

  • Provided advice to domestic and non-US insurers on all aspects of US insurance and reinsurance regulation and jurisdiction, including market conduct and insurance holding company matters.
  • Assisted clients in the formation of insurers and captive insurers and led multi-state and national licensing programs.
  • Conducted reinsurance arbitrations on behalf of ceding and assuming companies arising out of disputes over material misrepresentation, ex gratia payments, declaratory judgment expenses, follow-the-fortunes and other causes.
  • Represented clients in purchase or sale of active and shell insurance companies including due diligence, drafting of purchase agreements and related documentation and conduct of change-of-control hearings before insurance departments.
  • Represented clients in run-off and commutations.
  • Advised and represented clients in MGA transactions.
  • Represented creditors in insurer insolvency proceedings and on creditor committees.
  • Experienced in legislative drafting and registered lobbyist.

Professional Associations and Memberships

  • Insurance Federation of NY - President and Trustee
  • American Bar Association
  • Association of the Bar of the City of New York
  • Federation of Regulatory Counsel
  • lnternational Association of Insurance Receivers

Admissions

  • New York~United States (1977)
  • New Jersey~United States (1976)

Education

  • Duke University School of Law (JD) (1976)
  • Duke University (BA) (1973)

Languages

  • English