Receivership Services
The Receivership team plays a critical role in safeguarding policyholders, creditors, and the public interest when insurers experience financial distress. By supporting state insurance departments through all phases of regulatory intervention—from supervision to liquidation—the team ensures that troubled insurers are managed in accordance with statutory requirements and best practices in regulatory compliance.
Regulatory Oversight of Troubled Insurers
Administrative Supervision & Rehabilitation:
- Assists regulators in evaluating solvency concerns and implementing corrective action plans under administrative supervision.
- Supports rehabilitation efforts by analyzing operations, restructuring liabilities, and preserving policyholder value in accordance with state receivership statutes.
Liquidation Support:
- Leads the orderly wind-down of insolvent insurers, including asset recovery, claims adjudication, and coordination with state guaranty associations.
- Ensures compliance with Uniform Insurers Liquidation Act (UILA) provisions and state-specific liquidation procedures.
Technical & Financial Expertise
Forensic Accounting & Transaction Analysis:
- Conducts in-depth reviews of financial records, asset sales, acquisitions, and intercompany transactions to identify irregularities or recoverable assets.
Reinsurance Billings & Recoveries:
- Manages complex reinsurance arrangements to maximize recoveries and ensure accurate billing in accordance with contract terms and regulatory expectations.
Solvency & Actuarial Analysis:
- Performs solvency assessments and collaborates with actuaries to evaluate reserve adequacy and long-term financial viability.
Legal & Litigation Support
Litigation Readiness:
- Provides expert support in legal proceedings related to asset recovery, contract disputes, and fraudulent conveyances.
- Assists in preparing documentation and expert testimony for regulatory enforcement actions or court-supervised liquidation proceedings.
Specialized Regulatory Functions
Coordination with Guaranty Associations:
- Facilitates seamless communication and claims processing with state guaranty funds to protect policyholders and minimize disruption.
Corporate Restructuring:
- Advises on reorganization, recapitalization, and demutualization strategies to stabilize or transition insurers in distress.
Experienced Regulatory Professionals
Team Credentials:
- Staffed by former state insurance regulators with deep experience in troubled company oversight and receivership operations.
- Professional designations include: CPA, MBA, CFE, CIE, CPCU, FLMI, and licensed attorneys—ensuring multidisciplinary expertise in finance, law, and insurance regulation.
The Receivership team is a trusted regulatory partner in managing insurer insolvency and financial instability. Their comprehensive approach—grounded in legal, financial, and operational expertise—ensures that regulatory actions are executed with precision, transparency, and in full compliance with statutory mandates. Their work protects policyholders, preserves assets, and upholds the integrity of the insurance system.
Team Leadership
Don Roof, MCM
Managing Director
Harry (Trey) L. Sivley III, Esq.
Special Deputy Receiver
Leo Garrity
Estate Manager
Garland Scott
Estate Manager
Justin Durrance, CIE, FLMI, AMCM
Senior Manager
Susan Heath, CPA, AFE
Senior Manager
Chris DiBona
Manager
TESTIMONIALS
What our team says about us
Cynthia M. Fitzgerald, AIRC, ACS, AIAA, CICSR, CFE(Fraud), CIE, MCM, PHAM, ITP, CCP
Director
Working at ER has allowed me to develop my leadership skills to elevate my team in the Health Consulting Services space. Consistent and meaningful engagement with executive leadership at ER is incredibly supportive and collaborative. At ER, we foster a creative work environment where everyone feels valued and heard. ER leadership is committed to professional development and work life balance. I enjoy the opportunity to lead a strong team with vision and purpose as we support state and federal regulators with dynamic and creative solutions. One of the attributes I like most about working at ER is the opportunity to work closely with other leaders in other areas of insurance regulation. This opportunity is only possible when leaders feel trusted, supported and equipped with the tools necessary to be successful. At ER, we take care of our clients, our team and each other as we deliver on our mission.
Craig Leonard, CIE, CPCU, CCP, FLMI, ARC, AIAF, ARM, MCM
Senior Director Market Conduct
Working at ER has been an incredible experience that allows me to lean into my strongest skills as a thought leader who is always looking to raise the bar and find better ways to improve market regulation processes. ER’s commitment to quality, efficiency, and first-rate representation creates an environment where innovation thrives, and continuous improvement is the standard. Our firm’s streamlined structure ensures prompt attention to clients at all levels, enabling me to partner with them in meaningful ways and consistently exceed their expectations. In my 34 years being involved in market regulation, I have never worked with a more knowledgeable, dedicated team. With deep knowledge and dedication to the NAIC’s Market Regulation Handbook, combined with our ‘out-of-the-box’ thinking, we identify critical findings often overlooked by others. I take immense pride in the work we do and the value we provide to our clients every day.
Mark Ossi, CPA, CFE, AMCM, CFE (Fraud)
Director Financial Analysis
In my previous position as a state regulator, ER was one of our trusted contracting firms. I felt like they were a strategic partner in the Department’s insurance regulatory oversight and was happy to have them be part of our team for the seventeen years I was employed at the Georgia Department. In 2019, I joined the ER Team and have been even more impressed with ER’s professionalism, culture and commitment to assisting our client’s mission of regulatory oversight of the insurance industry with the goal of safeguarding policyholders.
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CORPORATE HEADQUARTERS
20 10th Street NW, Suite 803
Atlanta, GA 30309-6197
Office: 404.816.6188
Fax: 404.816.6197
UTAH OFFICE
10619 S. Jordan Gateway, Suite 335
South Jordan, UT 84095
Office: 801.562.5748
VIRGINIA OFFICE
145 N. Main Street
Stuart, VA 24171
Office: 276.694.3806
Fax: 404.816.6197