Profile
James P. Corcoran
Current Employment
  • Company:
    James P. Corcoran
  • Position(s) and Responsibilities:

    Mr. Corcoran formed his own consulting firm in 2001 to provide consulting, expert testimony, and related legal services to insurance company clients including, among others, The Zurich Insurance Corporation of America, The Castlewood Group, St. Paul/Travelers Insurance Corp., Gerling Globale, Harbor Insurance Group, Highfields Capital Management, Humana Inc., John Hancock Insurance Company, Manulife Financial, Nomura Securities, QBE Insurance Corporation and several law firms.

    As a leader in the insurance industry and an effective strategist, Mr. Corcoran participated in several arbitrations as an ARIAS-U.S. certified arbitrator. He successfully represented the interests of six stock life insurance companies in opposing nationally proposed mutual holding company statutes and a consortium of fifty corporations in Executive Life Insurance Company’s insolvency. Over the last several years, Mr. Corcoran has made presentations on such subjects as mergers and acquisitions in the insurance industry, compliance issues, state and federal issues impacting an insurer’s ability to control its ratings, alternative insurance markets, the impact of new products on an insurer’s solvency, marketing on the Internet and the attendant regulatory concerns, securitization, and financial guaranty insurance.

    Mr. Corcoran was requested to provide testimony to a United States Congressional panel, to wit:

    House Committee on Government Reform October 7, 2002
    Topic: Collapse of Executive Life

  • Address:
    450 Park Avenue 30th Floor
    New York, NEW YORK 10022 United States
  • Phone:
    212 339-5146
  • Cell:
    917 208 1963
  • Email:
Offering Services as Expert Witness in:
Financial Guarantees, Insolvencies, Regulatory / Compliance
Previous Employment
  • Company:
    HC2 Holdings, Inc.
  • Position(s) and Responsibilities:

    Executive Chairman – September 15, 2015 – Present

    In this role, Mr. Corcoran is Executive Chairman of the Insurance Unit of HC2. HC2 is a holding company seeking to acquire assets. A team of visionaries, enthusiasts and operators. A value investor mentality with a long-term investment outlook focusing on delivering sustainable value for all of our stakeholders by pursuing businesses that are either undervalued or whose growth potential is significant and possibly underappreciated.

  • Company:
    American General Corp.
  • Position(s) and Responsibilities:

    Executive Vice President – directed enterprise-wide activities with relation to federal and state regulatory matters and represented American General Financial Group’s interests before governmental agencies including state insurance and banking departments, federal regulatory agencies and the Federal Reserve Board, and acted as counsel in New York for the enterprise. He was the Chief Executive officer of American General Life of New York and Vice Chairman of The United States Life Insurance Company and served on the CEO Regulatory Steering Committee, the Retirement Security Steering Committee, and the Committee of Annuity Insurers of the American Council of Life Insurance.

  • Company:
    U.S. Life
  • Position(s) and Responsibilities:

    Vice Chairman

  • Company:
    New York State Insuance Department
  • Position(s) and Responsibilities:

    Superintendent of Insurance – 1983 to 1990 – While Superintendent, several of Mr. Corcoran’s reform measures gained national attention, particularly the development of model laws dealing with financial guaranty insurance, holding company system regulation and the demutualization law which was promulgated by the National Association of Insurance Commissioners to allow mutual life insurers to convert to stock companies.

  • Company:
    Cadwalader, Wickersham & Taft LLP
  • Position(s) and Responsibilities:

    Partner

Credentials
  • Attorney:
    Yes
  • Education:
    Iona College,
    Fordham University School of Law
  • Degrees:
    B.A., Iona College,
    J.D., Fordham University School of Law
  • Designations:
    Admitted to N.Y. State, Federal Eastern and Southern Districts N.Y.
  • Other Information:
    As corporate partner rendered advisory opinions regarding reinsurance and coverage issues, served as expert witness in several major insurance matters; expertise in both property casualty and life insurance; oversaw liquidations of 23 property and casualty insurers.
Work Experience
  • Insurance Company: 14 years.
    Legal Department: 12 years.
    Executive Officer (CEO, COO, CFO, Chief Actuary): 2 years.
  • Reinsurance Company: 3 years.
    Other Department: 3 years. Board Membership
  • Law Firm (Insurance/Reinsurance Practice): 19 years.
    Partner: 19 years.
Breakdown of Experience
  • Regulatory/Licensing
    40%
  • Insolvencies
    15%
  • Life
    15%
  • Financial Guarantee
    10%
  • Workers' Compensation
    5%
  • Excess/Surplus Lines
    5%
  • Directors &, Officers
    5%
  • Ocean Marine
    5%
By Market
  • U.S. Market:
    90%
  • Global Market:
    10%

Insurance vs. Reinsurance: 80/20%
Treaty vs. Facultative Reinsurance: 50/50%
Current Insurance or Reinsurance Company Director

Mediation Experience
  • Number of Mediations
    As Mediator: 1 - Federal Admistrative Law Judge - dispute between U.S. Secretaries of Interior and Energy re: off-shore oil drilling
ARIAS Experience

Workshops, as Trainee: 1; February 2004

Ethics Training, as Trainee: 1; May 2010

ARIAS Conference Faculty: 1; Spring 2007

Arbitration Experience

Number of Arbitrations

As an Arbitrator: 5

Arbitrator Experience
Number of Arbitrations
1
Acted as an arbitrator through an evidentiary hearing of at least three full days regarding the substantive merits of the parties' dispute.
2
Acted as an arbitrator through to final award after completion of an evidentiary hearing of at least one full day and less than three full days regarding the substantive merits of the parties' dispute.
2
Acted as an arbitrator through to final award after completion of an evidentiary hearing of at least three full days regarding the substantive merits of the parties' dispute.
Biography