Steven B. Davis

Partner

  • Steven B. Davis
  • Phone: +1 215 979 1275

    Import to Address Book

  • Duane Morris LLP
    30 South 17th Street
    Philadelphia, PA 19103-4196
    USA

Steven B. Davis serves as a team lead of the firm's Insurance & Reinsurance industry group. He is a nationally recognized and highly experienced attorney in insurance transactional, regulatory and coverage matters. For more than 30 years, he has advised and represented insurers, reinsurers, and intermediaries on transactional and regulatory matters, including start-ups, mergers and acquisitions, affiliations, investments, intercompany matters and obtaining all necessary regulatory approvals. Mr. Davis also routinely provides advice and negotiates consent order in market conduct examinations against insurers and producers. He is also a known resource on insurance receivership and runoff and Model Insurance Holding Companies Act issues.

Mr. Davis also provides coverage-dispute counseling and related litigation, mediation and arbitration services to property-casualty, flood/write-your-own, directors and officers, errors and omissions, life, health and long-term care insurers and reinsurers, and sophisticated commercial insureds. He routinely advises startup and troubled insurance companies as well as producers in business matters, litigation and enforcement disputes. Mr. Davis serves as an expert witness on certain litigated matters, and has been engaged as amicus counsel for numerous insurance industry trade organizations. He previously served as general counsel of the Pennsylvania Insurance Department. He recently served on the Pennsylvania Governor Josh Shapiro Transition Team’s Finance and Insurance Subcommittee.

Mr. Davis is a 1994 cum laude graduate of Temple University School of Law and a summa cum laude graduate of Temple University.

Areas of Practice

  • Corporate
  • Insurance Regulatory and Compliance
  • Corporate Governance and Internal Investigations
  • Insurance and Reinsurance Litigation
  • Bad Faith Defense

Representative Matters

  • Obtained numerous change in control, exemption requests, and related party transaction regulatory approvals for dozens of insurer clients in numerous jurisdictions.

  • Negotiated dozens of market conduct consent orders for insurers and producers.

  • Represented mutual insurers in affiliation transactions (e.g., Allegany Co-op Insurance Co. in its affiliation with United Frontier Mutual Insurance Co., Goodville Mutual Casualty Co. in its affiliation with De Smet Farm Mutual Insurance Co. of South Dakota, etc.).

  • Represented 1315 Capital, a healthcare growth equity firm, as regulatory counsel, in acquisition of a majority interest in Homestead Smart Health Plans.
  • Represented The Penn Mutual Life Insurance Company in its acquisition of Vantis Life Insurance Company, a provider of affordable life insurance and annuity products
  • Amicus counsel in various litigation matters for industry trade groups, including the American Council of Life Insurers, the American Property Casualty Insurance Association, Insurance Federation of Pennsylvania and the Pennsylvania Association of Mutual Insurance Companies.

  • William M. Derr and Kimberly Derr Appellants v. National Fire Insurance Company of Hartford, No. 1340 EDA 2019, 2020 WL 592268 (Feb. 6, 2020): Appellate counsel for insurer upholding favorable ruling concerning employer rejections of UIM coverage.

  • Pennsylvania Life & Health Insurance Guaranty Association v. Pennsylvania Insurance Department, 218 A.3d 9 (Pa. Cmwlth., Sept. 9, 2019): counsel for health insurer in action to seek reimbursement of certain assessments.

  • Crosby Valve v. Department of Insurance, No. 78 C.D. 2015, 131 A.3d 1087, 2016 WL 164094 (Pa. Cmwlth., Jan. 14, 2016): Represented purchasers in regulatory proceedings and subsequent appeal contesting transaction.

  • Alabama Ins. Guaranty Assoc. v. Reliance Ins. Co. (In Liquidation), 100 A.3d 702 (Pa. Cmwlth., Sept. 12, 2014); aff’d, 121 A.3d 954 (Pa. Aug. 17, 2015): Successfully represent liquidator on claim classification issues.

  • Warrantech v. Reliance Ins. Co. (In Liquidation), 96 A.3d 346 (Pa. 2014): Successfully represent liquidator on dispute over warranty claims at trial and on appeals.

  • Illinois Ins. Guaranty Assoc. v. Reliance Insurance Co. (In Liquidation), 88 A.3d 313 (Pa. Cmwlth., Mar. 21, 2014): Prevailing party on classification of investment expense claims.

  • Greenberger v. Pennsylvania Ins. Dept., 39 A.3d 625 (Pa. Cmwlth., March 7, 2012): Establishing that Pennsylvania’s “Right-to-Know Law” is in applicable to insurance department’s function as statutory receiver.

  • In re Rehabilitation of Manhattan Re-Insurance Co., 2011 WL 4553582 (Del. Ch., Oct. 04, 2011): Successfully representing creditor against statutory receiver in proceeding for injunctive relief and to compel arbitration.

  • Federal Ins. Co. v. Cherokee Ardell, LLC, 2011 WL 1254036, (D.N.J March 28, 2011): Obtain motion for summary judgment for insurer under a pollution cost cap policy.

  • Campbell v. Standard Fire Ins. Co., 2008 WL 145048 (E.D. La. Jan. 14, 2008): obtain dismissal of WYO defendant in NFIP case.

Admissions

  • Pennsylvania
  • New Jersey
  • U.S. District Court for the Eastern District of Pennsylvania
  • U.S. District Court for the Middle District of Pennsylvania
  • U.S. District Court for the District of New Jersey

Education

  • Temple University Beasley School of Law, J.D., cum laude, 1994
  • Temple University, B.A., summa cum laude, 1990

Experience

  • Duane Morris LLP
    - Partner, 2023-present
  • Stradley Ronon Steven & Young LLP
    - Partner, 2006-2023
  • Pennsylvania Insurance Department
    - Chief Counsel, 2003-2006
  • Drinker Biddle & Reath
    - Senior Associate, 2001-2003

Professional Activities

  • Board of Governors, Saint Joseph's University Academy of Risk Management and Insurance

  • Fellow, American College of Coverage Counsel

  • Federation of Regulatory Counsel (FORC)

  • American Bar Association, Tort Trial & Insurance Practice Section

  • Association of Insurance Compliance Professionals

  • Association of Insurance and Reinsurance Runoff Companies

  • Insurance Federation of Pennsylvania

  • Pennsylvania Association of Mutual Insurance Companies

  • Pennsylvania Bar Association

Honors and Awards

  • Listed in Chambers USA: America’s Leading Lawyers for Business, 2024

  • Listed in Suburban Life Magazine, "Five-star Attorney"

  • Listed in Suburban Life Magazine, "Top Attorney"

  • Listed in Pennsylvania Super Lawyers

  • Listed in The Best Lawyers in America

No aspect of these rankings has been approved by the Supreme Court of New Jersey. Further information on methodologies is available via these links.

Civic and Charitable Activities

  • Board of Directors, Committee of Seventy

  • President, Pennsylvania Commonwealth Court Historical Society

  • Philadelphia Union League

Media Hits

  • Quoted, "4 Federal Agencies Insurance Attys Must Watch Under Trump," Law360, November 21, 2024
  • Quoted, "An Insurer Collapse Could Trigger Multi-Billion-Dollar State Guaranty Fund Crisis," Life Annuity Specialist, September 25, 2024
  • Quoted, "Cannabis Business Insurance 101," Cannabis Regulator, September 9, 2024
  • Quoted, "Duane Morris’s Davis and Goldberg: Carriers Trying to Address Cannabis Insurance Gaps," The Insurer, September 2024
  • Quoted, “Growth In Captives Gives Insureds More Control, Experts Say,” Law360, August 1, 2024

Selected Speaking Engagements

  • Moderator, “Insurance Department General Counsel,” American Property Casualty Insurance Association National General Counsel Conference

  • Moderator, “Don’t Be Spooked: Interacting With Your Insurance Department General Counsel,” American Property Casualty Insurance Association National General Counsel Conference

  • Panelist, “COVID Issues for Insurers: Business Interruption, Employer Issues and Department of Insurance Update,” Pennsylvania Association of Mutual Insurance Companies Virtual Claims Summit

  • Program Chair, “Business Insurance – Overview of Coverage Needs as Required by Law and Contract,” Practicing Law Institute

  • Panelist, “Business Interruption Litigation Claims Forum,” Pennsylvania Defense Institute Annual CLE and Conference

  • Course Planner, Saint Joseph’s University Insurance Regulatory Summit

  • Panelist, “Regulatory & Corporate Considerations,” Pennsylvania Association of Mutual Insurance Companies Business Transactions Seminar

  • Co-presenter, “Corporate Governance: Why All the Fuss?” Pennsylvania Bar Institute's Insurance Law for Insurance Lawyers: Legal Issues Beyond Your Office Walls

  • Panelist, “Shadowboxing with Government: Legislative and Executive Branch Considerations,” International Association of Insurance Receivers

  • Panelist, “Worried About a Single State Policy? Try A Multi-State One,” Association of Insurance Compliance Professionals

  • Moderator, “The Board and Risk Oversight,” Pennsylvania Association of Mutual Insurance Companies

  • Panelist, “Property & Casualty Market Conduct Update,” Association of Insurance Compliance Professionals

  • Panelist, “Market Conduct 360: A Practical Guide to Avoiding and Dealing with Market Conduct Examinations” Pennsylvania Association of Mutual Insurance Companies

  • Moderator, “Health Care Reform - What You Need to Know Now,” Society of Insurance Financial Management Quarterly Conference

  • Presenter, “Motion Practice in Bad Faith Cases,” Pennsylvania Bar Institute

  • Presenter, “Emerging Insurance Issues,” 2014 Commonwealth of Pennsylvania Office of General Counsel University

  • Presenter, “Multi-State Risks – Product Filing and Litigation Issues,” Association of Insurance Compliance Professionals’ Annual Meeting

  • Presenter, “Corporate Risk Management: Directors and Officers Liability,” Emerging Insurance Coverage & Allocation Issues Conference

  • Presenter, “Navigating Your Journey Through Market Conduct Exams,” 26th Annual Association of Insurance Compliance Professionals Conference