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Insurance and retirement products, insurance distribution

Insurance companies operate in a highly regulated industry and must continually develop new financial products to remain competitive. Our premier insurance products practice represents producers and distributors and counsels them on the myriad of legal and regulatory issues involving the development, distribution and administration of these products.

We advise on the regulatory issues involved in product design and negotiate and execute complicated distribution arrangements. We work with the entire spectrum of insurance companies and products. Our clients span the industry and include insurance companies of all sizes, as well as mutual funds, banks, other financial institutions, intermediaries, brokers and foreign-owned financial holding companies and their subsidiaries.

Our product design, distribution and outsourcing services include:

  • advising upon new product design and compliance with insurance securities and tax requirements
  • preparation of disclosure materials and filings with regulatory authorities
  • marketing, distribution, product development, private label/white label, joint venture and claims handling agreements
  • reviewing policy language and customer literature to ensure compliance with regulatory requirements
  • cover holder agreements, binding authorities and appointed representative agreements
  • outsourcing arrangements in the insurance sector
  • advising upon sales scripts
  • updating policy language to reflect regulatory developments
  • advising on insurance distribution networks and insurance intermediation

Recent insurance product matters include:

  • advising on compliance with local law and regulation for multi-jurisdictional roll-out of general insurance products
  • legal advisor to Committee of Annuity Insurers (consisting of insurers representing 80% of the U.S. annuity business) on regulatory policy developments and advocacy with respect to new regulatory and legislative initiatives
  • indexed universal life products — including analysis of securities status, development of compliant illustrations and marketing materials
  • index linked variable annuities-including SEC registration and illustration compliance
  • corporate-owned life insurance (COLI) and bank-owned life insurance (BOLI) — including policy forms, tax compliance, development of innovative funding options, preparation of offering materials.
  • private placement variable universal life — including offering materials, Regulation D and tax compliance
  • life insurance with long-term care features—including tax compliance, state regulatory and annuities filings and treatment
  • use of life insurance in qualified plans and split dollar life insurance
  • advising on group insurance policies (health, disability, death)
  • advising a product platform on providing an ISA insurance wrapped solution for products sponsored by a life insurer
  • advising a life insurer on linking commodity funds to life policies in light of Solvency II

Contact our insurance and retirement products team

If you would like any further information or need advice related to insurance and retirement products, please contact our legal team.

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© Eversheds Sutherland 2023. All rights reserved. Eversheds Sutherland is a global provider of legal and other services operating through various separate and distinct legal entities.

Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.