It’s no coincidence that the word “solutions” is included in the name of a new law firm representing insurers that recently launched in California.
Woods Group Solutions, headquartered in Sonoma, Calif., began operations on Jan. 1 with a focus on creating solutions to problems faced by the insurance industry, according to owner Jim Woods, who described the new firm as “solution-oriented, creative and smart.”
Woods, whose had his name attached to a number of noteworthy legal solutions, said he realized it was time to launch his own firm when he felt he had been a part of big legal firms long enough, so he decided to “do something more entrepreneurial.”
“It’s a network of insurance professionals providing legal services,” Woods said. “We pride ourselves on being solution-oriented, innovative and smart. We hope to be a resource to insurers and insurance entrepreneurs.”
Woods, who has represented the Surplus Line Association of California for the past 40 years, was formerly co-leader of Mayer Brown’s Global Insurance Industry Group and chair of the LeBoeuf, Lamb, Greene & MacRae Insurance Practice.
He has represented more than 60 insurers in California’s Proposition 103 hearings, he represented the Dutch Association of Insurers in connection with the creation of the International Holocaust Commission on Holocaust Era Insurance Claims, and he helped create the California Earthquake Authority.
He also co-founded an InsurTech online insurance service called LowestPremium.com, and co-founded the Insurance Industry Charitable Foundation.
Woods, who is licensed to practice law in both California and New York, said he is currently working on matters related to the recent Northern and Southern California wildfires, as well as the mudslides in Southern California, and issues related to the Affordable Care Act.
His insurance law specialties include regulation, corporate, litigation, tax, accounting, investment banking, actuarial services, cyber security and insurtech.
“We can offer solutions to virtually any insurance problems anywhere,” Woods said.
Woods said the business plan doesn’t call for an immediate need to go out and hire numerous associates and open a bunch of offices.
“We’re going to keep this very lean and very mean,” he said. “It’s going to be an entrepreneurial endeavor.”