Nicholas Secara is a member of the Banking, Finance and Major Projects Practice Group in New York, and practices in the areas of insurance and reinsurance. He advises clients on sensitive, complex, high-value contentious and non-contentious matters for the insurance industry. Nicholas represents insurers and reinsurers in arbitrations and judicial proceedings, as well as commercial transactions in the US and abroad. He regularly provides insurance regulatory and structuring advice related to mergers, acquisitions and project development. Nicholas also counsels clients on compliance, policy wording and corporate governance.
Nicholas co-founded the Insurance Federation of New York, Inc., Emerging Leaders, and is a member of its Advisory Council. He also is an Executive Board Member for the US Reinsurance Under 40s Group, Inc.
Nicholas's insurance and reinsurance advisory and litigation practice focuses on the energy industry with an emphasis on oil and gas companies and nuclear and electric utilities insured through industry mutuals and captives. He represents insurers in matters related to first and third-party losses arising from major disasters and catastrophes, damage to and failure of oil infrastructure, including wells and pipelines, explosions, wildfires, mining disasters, gas and oil leaks, war and terrorism, toxic torts and pollution.
His transactional and regulatory practice includes counseling insurers on cross-border mergers, acquisitions, commercial transactions and associated regulatory compliance matters. Nicholas represents buyers, sellers and other participants in the development, financing, and sale and acquisition of energy and other infrastructure projects, both domestic and international. He advises on matters involving federal healthcare compliance, financial institutions, privacy and cybersecurity, environmental contamination, aviation, and life and health products. Nicholas also represents insurance industry participants before state regulatory agencies and state attorneys general.
Representative Legal Matters
- Advised an offshore mutual insurer on complex, high-value claims involving damage to or destruction of oil and gas infrastructure resulting from armed attacks by the Islamic State.
- Successfully represented a cedent in a reinsurance arbitration, proving the reinsurer's refusal to pay administrative fees was performed in bad faith.
- Advised insurers, producers and other intermediaries and adjusters on US and cross-border insurance regulatory issues impacting various lines of business, including property and casualty and life and health, and licensed the risk bearing entities and service providers.
- Advised an insurance broker on federal regulations as well as commercial concerns involving the Affordable Care Act and the Health Insurance Portability and Accountability Act.
- Counseled an investor on its acquisition of controlling shares in multiple Middle Eastern commercial insurers that write various lines of business throughout the Arabian Peninsula.
- Advised a joint venture on the development of a USD 1 billion grain export terminal in Canada, identifying inherent construction-related risks and recommending alterative risk transfer options.
- Counseled an investor in a successful auction to acquire the majority interest in two water and wastewater system operations in the US, advising on the scope and adequacy of insurance provided by the seller and municipalities.
- Represented an aviation insurer under investigation by the New York State Department of Financial Services for its claims handling and settlement practices.
Professional Associations and Memberships
- Insurance Federation of New York, Inc., Emerging Leaders - Co-founder and Advisory Council Member
- US Reinsurance Under 40s Group, Inc. - Executive Board Member
- American Bar Association
- New York State Bar Association
- New York City Bar Association
- New York~United States (2012)
- New Jersey~United States (2012)
- Benjamin N. Cardozo School of Law (J.D.) (2011)
- Middlebury College (B.A.) (2006)