What happens to those insurance customers who have difficulty getting insurance because of their size or the nature of their business, such as a company that manufactures explosives? They may be able to find coverage in the surplus lines market. Join Sam Garro, Senior Vice President of the Compliance Department at Philadelphia Insurance Companies, as he sits down with Andrew Adams, President at River Valley Underwriters, Inc., and Nicole Zayac, counsel in Willkie Farr and Gallagher, LLP’s Corporate & Financial Services Department and a member of the Insurance Transactional and Regulatory Group, to discuss this market, how it operates, why it differs from standard insurance and describe the unique way in which it is regulated. Surplus lines is a multi-billion dollar business. Find out what it’s all about in this exciting podcast.

Featuring: Andrew Adams, President, River Valley Underwriters, Inc.
Nicole Zayac, Counsel, Willkie Farr and Gallagher, LLP’s Corporate & Financial Services Department

Hosted by: Sam Garro, Senior Vice President, Compliance Department, Philadelphia Insurance Companies

Andrew Adams  is from Little Rock, Arkansas and attended Southern Methodist University, played football during his time at SMU. Andrew has an Bachelor of Business Administration in Finance and a Master of Science in Management, from SMU. Andrew’s family previously owned M.J. Kelly Company which is where he began his career in insurance. In October of  2018 Andrew founded River Valley Underwriters in Little Rock, Arkansas, RVU is an MGA writing E&S property and casualty business now in eleven states, he now has over 30 employee’s & ended his fourth year in business with over $30+ Million in writings.

Nicole Zayac is counsel in Willkie Farr and Gallagher, LLP’s Corporate & Financial Services Department and a member of the Insurance Transactional and Regulatory Group. She has broad insurance regulatory experience and regularly advises insurance industry participants on regulatory and compliance issues.

Ms. Zayac represents insurance clients from all segments of the industry, including insurers, reinsurers, MGAs, producers, TPAs, adjusters, and investors. She advises clients on compliance matters as they relate to business operations, new products, and transactions involving regulated entities and assists clients with responses to regulatory investigations and compliance actions by state insurance regulators. She provides compliance advice on issues such as surplus lines and other forms of non-admitted insurance, as well as credit for reinsurance, product reviews, licensing requirements, platform integration, advertising, and general business practices. She also works with insurtech clients to address regulatory and licensing issues at all stages of development.

Ms. Zayac also advises on the regulatory aspects of complex transactions, including internal reorganizations of holding companies, acquisitions, domestications of branches of alien insurers, and redomestication of insurance companies. She represents investors, including private equity funds, with regulatory aspects of investments in, or acquisitions of, regulated insurance entities. In addition, Ms. Zayac advises clients in forming both insurance companies and producer entities, providing regulatory counsel and securing needed approvals from formation through licensing. She drafts and obtains required regulatory approval for services, agency, broker, and cost sharing contracts for insurance companies.

Sam Garro is currently Senior Vice President of the Compliance Department at Philadelphia Insurance Companies. He received his BA degree with honors from Rutgers University and his law degree from Temple University’s (James E. Beasley) School of Law. He is currently licensed to practice law in New Jersey and Pennsylvania. He holds the CPCU and ACP designations.

Sam has experience in many capacities in Compliance and Product Development with increasing

responsibilities in management of those areas. He has managed compliance and product development units in both Life and Health and Property and Casualty.

Sam is active in continuing education and has presented numerous continuing education seminars for the Insurance Society of Philadelphia (ISOP) and the Institute of Strategic Educational Partners. He has twice been awarded the Outstanding Educator Award by ISOP and was a recipient of ISOP’s Mariellen Whelan Excellence in Education Award.

Sam is active with the Association of Insurance Compliance Professionals serving as Mid-Atlantic Chapter President and has coordinated, moderated, and spoken at various sessions at both the local and national conferences.