Scott D. Geromette

Scott Geromette has substantial experience with a variety of arrangements in the insurance industry, including:

Commercial Insurance

• Provides due diligence/feasibility reviews and assists in the formation, licensure and operation of commercial insurance companies
• Assists insurance companies with various regulatory matters, such as representation in the supervision, rehabilitation, receivership and liquidation process, as well as other regulatory inquiries that arise in general insurance operations
• Experience with the sale and acquisition of insurance companies, including the preparation and filing of Form A
• Expertise with a variety of insurance policy forms and reinsurance agreements and structures, including with respect to sophisticated multi-reinsurer arrangements and those involving non-admitted reinsurance (i.e. Schedule F considerations)
• Representation of numerous insurance companies in establishing their own reinsurance subsidiaries to help accomplish strategic goals and operational objectives

Insurance Agent/Brokerage

• Assists in the formation and licensure of insurance agencies and brokerages (both individual and entity licensure), including “insurtec” companies
• Provides ongoing legal, regulatory and tax advice regarding the operation of insurance agencies and brokerages, including with respect to multi-state arrangements
• Experience with all lines and placements, including excess and surplus lines
• Experience related to the sale and acquisition of agencies and brokerages
• Expertise in representing agencies and brokerages in complex state regulatory inquiries and examinations
• Assists in drafting and/or reviewing various documents related to the operation and activities of agencies and brokerages, such as retail, wholesale and MGA agreements, employment agreements, insurance policies, underwriting guidelines, binding authority policies, non-compete/non-solicitation agreements, independent contract agreements
• Designs, organizes and represents numerous agency-owned captive insurance companies that allow the agencies and/or their clients to participate in underwriting experience

Alternative Risk Financing

• Significant experience with the evaluation, design and implementation of alternative risk financing arrangements, including captive insurance companies, self-insurance programs, risk purchasing groups, cell and series captives, and risk retention groups
• In 2018, helped organize and license what is believed to be the first U.S.-domiciled captive insurance company dedicated to specifically covering product liability risks attributable to legal recreational and medical marijuana
• Experience spans a wide variety of industry sectors, including construction, healthcare (hospital, physician, skilled nursing), hospitality, technology, real estate/REIT (commercial and residential), auto/trucking/towing, and agriculture
• Possesses experience counseling captive insurance companies with multiple owners and companies in the leading captive insurance domiciles, both onshore and offshore
• Provides reviews and interpretations of insurance policies and analyses of questions of coverage
• Counsels owners/sponsors of alternative risk financing arrangements on legal, regulatory, tax and strategic issues
• Formation and representation of insurers, community development financial institutions and other entities qualifying for membership with the Federal Home Loan Banks
• Experience with structuring and advising various captive arrangements involving insurance or reinsurance of employee benefits (including MEC and other healthcare coverages), as well as employer, provider and other stop loss programs

• Michigan Super Lawyers, Recognized as a Rising Star, 2011-2012 and 2015-2018