James S. Gkonos
Jim Gkonos focuses his practice of almost 40 years on insurance and reinsurance regulatory matters, contract and treaty interpretation and reinsurance disputes. As a former division general counsel of a large domestic property and casualty carrier, Jim has significant experience with the regulatory issues facing domestic carriers. Jim advises insurance and reinsurance companies on issues such as InsurTech, cybersecurity regulation, licensing, appointments, and compliance with the regulations applicable to the day-to-day operations of insurance companies, including corporate governance, cybersecurity, rates, advertising and social media. Jim also has substantial experience on issues relating to financial guarantees, surety bonds, and the intersection between insurance and the capital markets.
Jim also drafts reinsurance agreements and handles reinsurance disputes. He is a certified reinsurance arbitrator. He advises clients on the drafting of life and property and casualty reinsurance agreements, structures securitized international financial transactions backed by insurance guarantees, and advises clients on structuring reinsurance transactions involving SPVs and backed by capital market investments. In his previous role as division general counsel, he was responsible for drafting and interpreting the reinsurance treaties placed annually by the division and was involved in the commutation of hundreds of reinsurance treaties.
Jim also previously served for nine years as senior counsel advising the rehabilitator of one of the largest insurance insolvencies in the United States - Mutual Fire Marine and Inland Insurance Company, In Rehabilitation. As a result of his substantial experience with insurance insolvencies and runoffs, he frequently represents clients who have issues with insurance companies in runoff and liquidation. He also has substantial international experience in the restructure of financially impaired, insolvent or bankrupt entities. Jim also handled substantial litigation in the United Kingdom, Japan, China, Argentina, Brazil and the Virgin Islands and brings more than 30 years of domestic litigation experience to the Insurance Practice.
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