Manatt Attorneys Represent Berkshire Hathaway in Forming Groundbreaking Insurance Entity
New York, NY, December 28, 2007 - Manatt, Phelps & Phillips, LLP, the national law and consulting firm, represented Berkshire Hathaway in connection with the incorporation and licensing of Berkshire Hathaway Assurance Corporation, a New York domestic insurance company that will write financial guaranty insurance, with a focus on insuring municipal bonds. The company is also authorized to reinsure financial guaranty insurance written by other insurers. Manatt attorneys Marcia D. Alazraki and Jeremiah P. Sheehan, working closely and cooperatively with the New York Insurance Department, were able to secure the numerous regulatory approvals necessary to form the insurer and get it licensed to do business in less than one month, meeting the client's very aggressive goal to have the new subsidiary operational by year end. Berkshire Hathaway Assurance Corporation is expected to provide new capacity and financial capability to a market that has been under considerable strain in recent months.
Ms. Alazraki is co-chair of the firm's Insurance Practice Group and has extensive experience with respect to all aspects of insurance regulatory law, including the financing, acquisition and licensing of insurance companies, insurance product design, reinsurance transactions, and market conduct and financial examination advice. From 1981 to 1984, Ms. Alazraki was Deputy Superintendent at the New York State Department of Insurance. Ms. Alazraki served as Assistant Counsel to the Governor of the State of New York from 1979 to 1981.
Mr. Sheehan has had extensive experience in insurance and regulatory matters and has represented a broad range of clients in connection with the financing, acquisition and regulation of life, health, property-casualty and financial guaranty insurers and related entities. He has represented clients on a wide variety of matters before state insurance departments.
About Manatt, Phelps & Phillips, LLPManatt, Phelps & Phillips, LLP, provides legal and consulting services to a global client base from offices in Los Angeles, Orange County, Palo Alto, San Francisco and Sacramento, California; New York City and Albany, New York; and Washington, D.C. Manatt includes Manatt Health Solutions, a healthcare policy and strategic business advisory group, and ManattJones Global Strategies, LLC, a wholly owned subsidiary that develops and implements strategies to expand client businesses and facilitate their effective competition in global markets. For more information, visit www.manatt.com, www.manatthealthsolutions.com, and www.manattjones.com.
© 2013 Manatt, Phelps & Phillips, LLP. All rights reserved.