Legal services with respect to the evaluation, examination and oversight of the financial condition of insurance companies under the Suspension of Business – Involuntary Dissolutions Law (Article V of The Insurance Department Act – 40 P.S. §§ 221.1-221.63), the Risk-Based Capital Statutes (Articles V-A and V-B of The Insurance Department Act – 40 P.S. §§ 221.1-A – 221.15-A, 40 P.S. §§ 221.1-B – 221.15-B), the Examinations Law (Article IX of The Insurance Department Act – 40 P.S. §§ 323.1-323.8), Insurance Holding Companies Law (Article XIV of The Insurance Company Law – 40 P.S. §§ 991.1401 – 991.1414), Risk Management and Own Risk Solvency Assessment Law (Article XXVI of The Insurance Company Law - 40 P.S. §§ 991.2601 – 991.2610) and Corporate Governance Annual Disclosure Law (40 Pa.C.S. §§ 3901 – 3911). With respect to the Risk-Based Capital Statutes, this engagement may include review of RBC Plans or revised RBC Plans, examination or analysis of the assets, liabilities and operations of troubled insurance companies, formulation of a Corrective Order, handling related litigation and provision of legal advice. With respect to the Examination Law, this engagement may include acting as an examiner, handling related litigation and the provision of legal advice. The scope of engagement may also include could include seeking an administrative declaration of insolvency and prosecuting a petition for liquidation before the Commonwealth Court (both likely contested) or advising the Commissioner as adjudicator in administrative matters. This engagement may include other general work as designated by the Chief Counsel of the Pennsylvania Insurance Department, the OCFR and the Office of General Counsel.
