Thomas (“Tom”) Hrdlick is a partner and insurance and reinsurance attorney with Foley & Lardner LLP. Tom’s practice is concentrated in the fields of corporate and regulatory insurance and reinsurance law, with a particular emphasis on transactional work within the insurance and reinsurance industries and reinsurance runoff management. He is a former co-chair of the firm’s Insurance & Reinsurance Industry Team and former chair of the Insurance Industry Practice Group. Tom is also a member of the firm’s Health Care Industry Team due to his experience working with health insurers.
Tom represents insurance and reinsurance companies and other industry players in a variety of transactions and corporate restructurings, including public and private company mergers, stock acquisitions, initial and secondary public offerings, private placements, shell transactions, for-profit conversions, demutualizations, mutual holding company (MHC) conversions, reinsurance wordings, reinsurance affiliations, loss portfolio transfers, redomestications and managing general agent (MGA) programs and related program business agreements. Tom also counsels such entities with respect to their regulatory affairs and filings related to such transactions, including their dealings with state insurance departments and matters involving federal agencies such as the SEC, FTC, Treasury and OFAC.
Tom also counsels insurers and reinsurers – both domestic and international – with respect to US state and federal regulatory issues impacting their business generally. For example, he counsels health insurers on regulatory issues arising under the Affordable Care Act. He counsels domestic and international insurers on surplus lines regulations in the US, state market conduct examinations and related issues, policy wordings and filings, statutory accounting issues, federal and state antitrust issues, e-sign and other e-business issues and issues related to compliance with OFAC and other US trade restrictions. Tom also counsels international reinsurers on regulatory developments in the US market that may impact their US assumed business, including US credit-for-reinsurance and collateral requirements.