Primary Industries

Industry Associations

  • ARIAS-US
  • Reinsurance Association of America (RAA)

Bar & Court Admissions

  • State Bar of Illinois
  • U.S. District Court for the Northern District of Illinois
  • U.S. District Court for the Western District of Wisconsin
  • U.S. District Court for the District of Colorado
  • U.S. Courts of Appeals for the Fifth, Seventh and Eleventh Circuits
  • Seneca Nation of Indians

Professional Affiliations

American Bar Association

Illinois State Bar Association

Chicago Bar Association

Lawyer-Pilots Bar Association

Community Involvement

Brain Research Foundation

Metis Enterprise Technologies LLC (Board of Advisors)

Chicago Economic Society (Board of Directors)

Legal Aid Society (Board of Directors / Chair of Pro Bono Committee)

Lawyers in the Classroom - Chicago

Education

Chicago-Kent College of the Law, Illinois Institute of Technology, J.D.

Cornell University, B.A.

Photo of Michael C. Kasdin

Michael C. Kasdin

Office Managing Partner
Chicago
T: 312.638.5671
F: 312.638.5672
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Full Bio

Michael Kasdin, Managing Partner of M&R’s Chicago office and the firm's National Hiring Partner, is a leading insurance regulatory lawyer and considered amongst the most creative and innovative attorneys in the industry. In fact, he was recently characterized by the Chicago Daily Law Bulletin as a “go-to lawyer in insurance/reinsurance law who can win cases and put together transactions that almost look impossible.” It is true, insurers, reinsurers, brokers, and agents routinely seek out Michael’s advice when other practitioners tell them that cases cannot be won and transactions cannot get done. Time and again, his technical capabilities get these clients the results they seek.

For private equity and third-party capital firms, Michael provides counsel in connection with the acquisition and strategic management of carriers and brokerages – his guidance spanning regulatory and compliance, business, and operational issues. His insurance and reinsurance clientele also benefit from Michael’s regulatory and transactional expertise, along with his litigation prowess. He is frequently called upon to obtain transaction approval, design new and compliant insurance products, advise on esoteric regulatory matters, and represent insurers and reinsurers in complex coverage disputes. Indeed, Michael’s strength as a litigator in the reinsurance space is highly regarded – a skillset that sets him apart from his peers.

A frequent speaker and writer on leading edge topics related to insurance and reinsurance, Michael has his finger on the pulse of the insurance regulatory landscape, both at the federal and state level. Without question, his comprehensive understanding of the industry keeps his clients on a continued course toward compliance and profitability, and M&R at the forefront of insurance regulatory practice.

Education

Michael earned a J.D. from Chicago-Kent College of Law, the law school of Illinois Institute of Technology. Prior to that, he received a B.A. from Cornell University.

Awards & Special Recognition

Michael has been widely recognized and honored throughout his legal career. He is one of only a handful of individuals to be awarded the prestigious Reinsurance Scholar designation by the Reinsurance Association of America; has been nominated to receive the Maurice Weigle Exceptional Young Lawyer Award; and has received several honors in recognition of his pro bono service, including the Chicago Volunteer Legal Services Foundation Distinguished Service Award. There is more. Michael has also been named a “Rising Star” in Illinois Super Lawyers magazine each year from 2013 and 2017. This in addition to his inclusion in the Chicago Daily Law Bulletin’s “Forty Under 40” list in 2016.

Representative Matters

  • Represented multi-billion-dollar private equity sponsor in connection with a joint venture with AIG to reinvest in a specialty lines broker and MGA. The transaction involved dividing up books of business, selling expirations, negotiating several program agreements and IP rights, and planning for an intricate distribution plan.

  • Provided regulatory guidance to multi-billion-dollar private equity sponsor concerning the acquisition of a life and health insurance broker with more than 30,000 appointed agents. Navigated legacy exposure to reinsurance liabilities, obtained regulatory approvals, developed large-scale compliance program, and conducted associated due diligence.

  • Developed and documented a global, cross-border, large-deductible, self-insurance program. This matter involved creating a complex set of policy documentation for DIC/DIL umbrellas, local endorsements, and other supporting instruments (collateral and claims handling agreements, etc.) to allow massive, multi-national businesses to operate seamless comprehensive self-insurance programs, all the while complying with local laws that require admitted policies.

  • Acted as lead regulatory advisor and primary point of contact for an agency that developed a one-of-a-kind insurance product to insure a homeowner’s equity in their home against market downturn. Drafted the policy language and endorsements; provided all key regulatory analysis; and advised client how to navigate the heavily regulated worlds of casualty insurance, federally-backed mortgages and monoline insurance. Also assisted with capital raise and formation of risk-bearing entities.

  • Counseled a private equity fund in connection of its receipt of the first Form A approval for a captive in the state of Utah.

  • Obtained regulatory approval for change of control of insurance entities in M&A transactions valued at more than US$1 billion of market value.

  • Obtained summary judgment for a defendant in reinsurance litigation that had been labeled "one of the largest insurance frauds of the twentieth century."

  • Obtained a complete victory for a major title insurance company in a large-claim arbitration involving novel issues of valuation and damages.

  • Secured a complete recoupment judgment against a negligent agent on behalf of a major title insurance company, one of the largest such judgments the company had ever obtained.

  • Developed and obtained approval for a new insurance product that had been previously dismissed by regulators as a form of non-permissible financial guaranty insurance.

  • Designed and completely documented an intra-company reinsurance program for one of the largest insurers in the United States.

  • Assisted a non-admitted alien insurer in developing a fully compliant protocol for writing primary insurance on a non-admitted basis in every U.S. jurisdiction.

  • Assisted various Fortune 500 clients with regulatory compliance issues related to captive insurance programs, including the development of compliant self-insured workers' compensation programs.

  • Formed a financial guaranty insurance company from the ground up and obtained licenses in more than 40 jurisdictions.

  • Assisted with designing and obtaining approval for a novel rehabilitation plan for a major insurance company insolvency.

Media Mentions

Publications

Past Speaking Engagements