Thomas J. Maida

Partner

Overview

Tom Maida is the managing partner of the Tallahassee office of Foley & Lardner LLP and is a former member of the firm’s national management committee. He focuses his practice on assisting clients in highly regulated industries execute critical strategic initiatives, beginning with the planning stage, moving on to the development of effective transactional frameworks, and ultimately securing regulatory approval of the transactions. Mr. Maida’s clients include some of the world’s largest insurance companies as well as many leading regional insurers. He is a member of the firm’s Insurance & Reinsurance Industry Team and the Government & Public Policy Practice.

Mr. Maida has played pivotal roles in the development of legal strategies for a number of complex business transactions, including the formation of insurance companies, group funds, and health maintenance organizations; mergers and acquisitions of insurance companies and health maintenance organizations; the conversion of group funds to mutual insurance companies; and the demutualization of insurers. He has also led the formation of mutual insurance holding company systems in highly complex business transactions.

A significant portion of Mr. Maida’s practice is also devoted to advising company boards of directors regarding such matters as board duties and responsibilities, corporate governance, conflicts of interest, board and management succession planning, and executive compensation. In addition, he routinely monitors groups of insurance company representatives to insure compliance with state and federal antitrust laws.

Representative Experience

  • Led team of outside counsel that assisted Blue Cross and Blue Shield of Florida in developing the plan and obtaining regulatory approval to transform the Florida Blue group of companies into a mutual insurance holding company system.
  • Led the successful defense of the National Council on Compensation Insurance in litigation, brought by the workers’ compensation claimants bar, which alleged NCCI’s ratemaking processes violated various Sunshine and Public Records Law requirements. Nat’l Council on Compensation Ins. v. Fee, No(s). 1D16-5408; 1D16-5416, 2017 WL 1908370 (Fla. 1st DCA May 9, 2017).
  • Instrumental in the formation of two of only a handful of reciprocal insurers approved by Florida regulators.
  • Served as general counsel of the Florida Workers’ Compensation Joint Underwriting Association, Florida’s workers’ compensation insurer of last resort, since its formation more than 20 years ago.
  • Serves as general counsel of the Florida Sheriffs Risk Management Fund, which provides a variety of specialized coverages to Florida sheriffs. Upon becoming general counsel, Mr. Maida led the reorganization of multiple sheriffs funds into a single group self-insurance fund, organized under the Florida Interlocal Agreement Act.

Recognition

Mr. Maida has been Peer Review Rated as AV® Preeminent™, the highest performance rating in Martindale-Hubbell's peer review rating system. He is listed in Chambers USA: America’s Leading Business Lawyers (2005 – 2017) and has been selected by his peers for inclusion in The Best Lawyers in America© since 2007. For 2013, he was named the Best Lawyers’® Tallahassee Insurance Law "Lawyer of the Year." Mr. Maida is listed in U.S. News Best Lawyers© (2007 – 2013) and was recognized by The Legal 500 for his insurance work (2011, 2014).

Affiliations and Professional Memberships

A member of the American Bar Association and its Tort & Insurance Practice Section, Mr. Maida serves on the ABA's Committee on the Public Regulation of Insurance. He is also a member of the Federation of Regulatory Counsel.

Education

Mr. Maida is a graduate of the Florida State University College of Law and also holds a bachelor's degree from the Florida State University.

Admissions

Mr. Maida is a member of The Florida Bar. He is also admitted to practice before the United States Court of Appeals for the Fifth and Eleventh Circuits and the United States District Courts for the Northern and Middle Districts of Florida.

Representative Matters

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Since 2001, Foley has acted as lead regulatory counsel for the National Council on Compensation Insurance (NCCI) in regard to its annual Florida workers’ compensation rate filing, which establishes workers' compensation insurance rates for Florida’s entire $3 billion workers’ compensation market.
Successfully led the conversion of the Florida Retail Federation Self Insurers Fund to a stock insurer in a mutual insurance holding company system. At the time of the conversion, the fund was the largest workers' compensation self-insurers fund in Florida, writing approximately $120 million in premium. The complex conversion was the first of its kind in Florida, requiring the fund to concurrently convert to an assessable mutual, then to a non-assessable mutual, and finally to a stock insurer inside a mutual insurance holding company system.
Represented AmCOMP Incorporated, the parent company of AmCOMP Assurance Corporation and AmCOMP Preferred Insurance Company, in connection with its sale to Employers Holdings, Inc. for $105 million.