Insurance and Reinsurance

News & Insights

Pages

Representative Matters

  • Counseled a reinsurer on its breach of contract claim against its former management.

  • Investigated long-term-care policyholders’ complaints about the client insurer’s denials of claims, and counseled the insurer on, and responded to, complaints filed with various states’ regulators.

  • Negotiated a settlement obligating a CGL policyholder to sue its former subsidiary, and not the client insurer, for indemnification of a $1 million deductible obligation to the insurer.

  • Represent a foreign insurer against its policyholder’s multimillion dollar lawsuit seeking coverage of claims against it by thousands of people infected by hepatitis C or HIV.

  • Represented a D&O insurer in an arbitration following the insurer’s denial of coverage for an investment fund’s regulatory settlement of allegations of securities manipulation.

  • Represented a reinsurer in a collection dispute against two retrocessionaires, settling with one and winning summary judgment against the other.

  • Represented a reinsurer in a three-week evidentiary hearing in federal court regarding a captive insurer’s redomestication from a U.S. state to Bermuda in order to expand coverage for asbestos and environmental claims under the general liability policies that the captive issued its owner. 

  • Represented an excess insurer against a manufacturer’s belated claim for coverage of its asbestos liabilities.

  • Represented an excess insurer against a manufacturer’s belated claim for coverage of its asbestos liabilities.

  • Represented an insolvent professional liability insurer and its reinsurer against a lawsuit brought by the assignee of the policyholder doctor.

  • Represented an insurer in the course of adjusting a claim for property coverage following a fire at a casino, which led to subrogation claims.

  • Represented insurers against putative class alleging antitrust and RICO violations based on alleged “bid rigging” and the normal underwriting practices of Lloyd’s of London.

  • Served as second chair at a federal trial for breach of reinsurance contracts, resulting in a $5 million judgment for the client reinsurer.

  • Served as second chair at an arbitration concerning the number of 9/11 World Trade Center events under a reinsurance treaty, resulting in the release of a $14.4 million letter of credit to the client.

  • Won dismissal for a client of a $6 million claim brought under an insurance policy issued by its subsidiary insurance company.

  • Won judgment for a professional liability insurer against a claim for coverage of a $1.25 million judgment entered against the policyholder.

  • Won summary judgment for a life insurer against the State of Illinois in a tax dispute.

  • Won summary judgment, including attorney’s fees, for an insurer seeking collection under its $1 million deductible from a worker’s compensation policyholder.

  • Represent an excess CGL insurer in a multimillion dollar allocation lawsuit against the CGL insurers of the indemnitor of the client’s policyholder, arising from an engine fire that burned down a tug boat for oil rigs.

  • Represented a business-auto insurer against a railroad that sought coverage under a “designated insured” form included in its subsidiary’s policy.

  • Represented a health and life insurer and benefits administrator in the acquisition of a privately held company specializing in providing contact and call center services to the healthcare industry.

  • Represented a leading life, health and disability insurance company with respect to over a hundred coverage disputes across the United States (including various arbitrations and mediations), as well as prosecuting claims against its third party administrator.

  • Represented a significant disability insurer of the most valued NBA and NHL players with regard to dozens of claims, including the successful resolution of a $20 million dollar claim against a prominent NHL team.  

  • Defended Bermuda mutual insurer in arbitration regarding forfeiture of departing member's equity. Client retained former member's equity.

  • Obtained rescission of quota share treaty on behalf of reinsurer for cedent's fraudulent accounting and reporting of historical loss ratios, resulting in award of $28 million.

  • Represented insured warehouse operator that had been denied coverage for millions of dollars in losses arising out of major warehouse fire. Obtained recoveries from insured's primary and excess insurers and insurance broker.

  • Represented investors and senior officers in shareholder dispute over control of a Dutch holding company with operations in Poland. Clients maintained control of company with no forced, above-market buyout of dissenting shareholder.

  • Represented surety in major financial fraud litigation arising out of more than a billion dollars in performance bonds for Enron "round-trip" energy transactions. Case settled after closing arguments for a substantial discount on the bonds.

  • Won reinsurance arbitration award for cedent, wherein the panel awarded client $26 million in claims. Wrote and argued appeal in which Second Circuit reinstated an award of 100% of client’s attorney fees for opponent's bad faith conduct.

  • Recovered on behalf of a financial institution hundreds of millions of dollars from accountants and insurance managers involved in finite reinsurance scheme.

  • Secured a victory after a four-day bench trial in federal court in a restrictive covenant case brought by a large national insurance brokerage client against a former executive. The Court awarded $1.9 million in attorneys’ fees, imposed a permanent injunction, cited multiple instances of the defendant breaching both his contractual restrictive covenant and the court’s preliminary injunction order (resulting in numerous findings of contempt of court), and referred both the defendant and a key third-party witness to the Office of the United States Attorney for investigation into possible perjury charges.

  • Representing a major domestic corporation in an ICDR arbitration more than the $1 billion sale of a division to a German conglomerate.

  • Counseled clients regarding claims coverage and prosecution under directors and officers liability insurance policies.

  • Counseled various reinsurance companies with respect to cedent allocation of underlying asbestos and human health claims.

  • Negotiated insurance brokerage and loss control services contract for major construction projects.

  • Pursued insurance coverage actions on behalf of several Class I railroads for losses associated with asbestos, hearing loss, repetitive stress and environmental claims under comprehensive general and excess liability policies.

  • Pursued insurance coverage for a major meat snack producer under directors and officers and employment liability policies.

  • Represented the estate of Centaur Insurance Company against the claims of various policyholders seeking tens of millions of dollars in coverage.

  • Represented the estate of Statewide Insurance Company with respect to prosecution of coverage claims against other insurers.

  • Advising insurers on state insurance regulatory matters, and representing clients before state insurance regulators nationwide.

  • Advising investors and insurance holding companies on insurance regulatory and corporate matters.

  • Counseling Bermuda and other non-U.S. insurers and brokers on doing business in the United States.

  • Forming and redomesticating captive insurance companies.

  • Negotiating mergers and acquisitions of insurance companies and insurance brokers.

  • Negotiating sales of books of business and reinsurance agreements.

  • Representing clients in dealing with insolvent insurance companies and insurance liquidators.

  • Responding to government investigations and conducting internal reviews.

  • Prevailed in a declaratory judgment action in which the insurer refused to defend a board member for a breach of fiduciary duty claim, which was upheld on appeal, and resulted in a the insurer being ordered to provide a full defense and reimburse the board member for its attorneys’ fees and costs spent in the underlying claim.

  • Successfully opposed summary judgment against an insurer in a duty-to-defend case, resulting in continued coverage for the client in the underlying personal injury dispute.

  • Served as lead trial counsel in AXA v. AIG (S.D.N.Y.) in a jury trial that resulted in a jury verdict in AXA’s favor for $35 million in fraud and rescission damages as well as punitive damages.

  • Represented reinsurers challenging the fraudulent re-domestication of a captive insurer of one of the largest U.S. corporations from Massachusetts to Bermuda where the captive declared bankruptcy shortly after arrival. The case involved highly complex litigation in multiple fora, including in the trial courts of Massachusetts, Bermuda and London, as well as three interlocutory appeals to the highest appellate court in Massachusetts and an appeal to the House of Lords (the Privy Council) in England. After several favorable decisions in the matter, our clients obtained settlements and commutations of their purported liabilities.

  • Represented a German reinsurer in a major reinsurance arbitration, obtaining a substantial unanimous award in favor of the reinsurer client, including punitive damages.

  • Represented a German reinsurer in an arbitration against a U.S. insurer where the client raised breach of contract claims as well as breaches of the duty of utmost good faith. In a unanimous decision, the panel found for our client, awarding it over $15 million in compensatory damages plus 6.5% compound interest and $1 million in punitive damages. The award was confirmed by a federal court. AXA Versicherung AG v. New Hampshire Insurance Co. et al, (S.D.N.Y).

  • Represented an insurance company in a major arbitration against its reinsurer who refused to follow the client's fortunes after a good faith and highly favorable settlement of the underlying claim.

  • Served as a lead counsel on behalf of a major reinsurer challenging the re-domestication of EMLICO to Bermuda in both the Massachusetts and Bermuda courts.

  • Served as lead counsel in more than 100 reinsurance arbitrations and court cases.

  • Successfully represented life reinsurance companies in two arbitrations with their ceding company who fraudulently induced them into participating in a reinsurance quota share agreement covering risks that were part of the personal accident worker’s compensation manufactured “spiral”. Our clients settled the arbitrations on the eves of the two hearings, saving a total of more than $150 million. 

  • Represented a major Japanese reinsurer, recovering hundreds of millions of dollars from a rogue managing agent who had defrauded the client and from a large international accounting firm who audited the account, but failed to alert the client about the agent’s fraud.

  • Successfully represented a pool of reinsurers whose fellow pool member fronted a risk for the pool and later entered into a fraudulent commutation with the underlying cedent using a grossly inflated IBNR figure (more than $100 million more than the IBNR carried on the underlying cedent’s books at the time). The fronting pool member did not pay the commutation price but instead assigned to the underlying cedent its rights under its retrocession contract with the other pool members. Our clients arbitrated the dispute with the underlying cedent/assignee and the case settled very favorably just before the evidentiary hearing was scheduled to begin. 

  • Represented the members of a workers compensation and accident reinsurance pool in a dispute with the fronting member of the pool regarding a fraudulent settlement and cession of losses.

  • Acted as counsel for a German retrocedent against a retrocessionnaire operating under a scheme of arrangement. The scheme adjudicator ruled in favor of the retrocedent, denying the retrocessionnaire’s rescission claim and ordering the retrocessionnaire to pay the claim.

  • Acted as counsel for reinsurers in a large number of disputes with insolvent cedents.

  • Acted as reinsurance counsel to the Rehabilitator of Pine Top Insurance Company of Illinois in the late 1980s.

  • Member of the NAIC Insurer Insolvency Offset Working Group in the late 1980s.