In the inaugural episode of Policy Pulse, Emilie Nadler is joined by Larry Hamilton, a partner at Mayer Brown and lead of the firm’s US Insurance Regulatory practice. Larry is a co-founder of Mayer Brown’s Insurance and Capital Markets Convergence group, which uses the combined talents of the firm’s insurance and structured finance practices to ensure that transactions take into account the customs and expectations of both markets. Larry has a 50-state insurance regulatory practice and has extensive experience negotiating directly with insurance regulators, helping clients overcome regulatory obstacles and gain approval for their proposed forms of business arrangements. He regularly advises US and European clients on the insurance regulatory issues associated with new and complex investment structures, including the evolving changes in regulatory treatment of different types of investments by the National Association of Insurance Commissioners (NAIC). In this episode, Larry and Emilie discuss a recent NAIC regulatory development—the principles-based bond definition (PBBD).