Insurance Litigation & Regulatory Defense

Experience

    • Ambac Assurance Corp., a Wisconsin domiciled insurance company, in a holistic restructuring transaction that involved three exchange offers of existing debt securities and other payment obligations for approximately $2.2 billion of newly-issued debt securities, as well as a new-money financing collateralized by the future proceeds of certain litigation claims against RMBS originators.
    • The Prudential Insurance Company of America in a life insurance beneficiary class action challenging the company’s use of retained asset accounts as a means of settling life insurance claims.
    • John Hancock in a policyholder class action regarding unclaimed property.
    • A major global insurer in multiple shareholder class action and derivative lawsuits challenging practices with regard to payment of death benefits and escheatment of unclaimed death benefits.
    • Multiple insurers in a lawsuit filed by the West Virginia Treasurer alleging violations of West Virginia unclaimed property law.
    • The Life Insurance Council of New York and the U.S. Chamber of Commerce Institute for Legal Reform in authoring definitive white papers on the interpretation of unclaimed property laws.
    • John Hancock in arbitration over reinsurance coverage relating to the sale of a business, and in subsequent litigation.
    • Assured Guaranty Re Ltd. and Assured Guaranty Corp. in reinsurance dispute with Ambac Assurance Corporation in the Wisconsin rehabilitation of Ambac’s segregated account.
    • An insurer in a purported class action challenging lender placed insurance.
    • ACE in D&O coverage matter involving QWEST Communications.
    • MBIA in pre-arbitration dispute with reinsurer.
    • A property and casualty insurer in litigations in the U.S. and Cayman Islands related to losses resulting from the Liberian civil war.
    • CIFG Assurance North America as a plaintiff in a successful action – won on an early, pre-discovery summary judgment motion – for breach of a reinsurance contract.
    • Multiple insurers in disputes and inquiries before the New York Department of Financial Services.
    • Beacon Insurance Company in proceeding to recover reinsurance proceeds.
    • Strongwood Insurance Holdings and Sequoia Insurance Company in connection with reinsurance dispute.
    • An insurer in a multi-site environmental coverage matter in NJ state court involving numerous coverage defenses; settled following favorable rulings on several partial summary judgment motions.
    • ACE in D&O coverage matter involving policyholder JDS Uniphase.
    • A leading carrier in pending asbestos bankruptcy and related state court coverage litigation.
    • Wellington Underwriting plc against Royal & Sun Alliance plc. in reinsurance claims for losses incurred by UOP.
    • Several life insurance companies (John Hancock, Prudential, and a major global insurer) in demutualization proceedings and related civil litigations.
    • An insurer in arbitration involving allocation of hundreds of millions of dollars arising from worker compensation reinsurance.
    • ACE in D&O coverage dispute involving Honeywell.
    • Several issuers of group insurance in regulatory inquiries and civil litigation relating to the compensation of brokers.
    • Prudential Retirement in an $80 million lawsuit to recover losses in retirement products from misinformation in subprime mortgages.
    • Coverage dispute involving two policyholders claiming on each others’ policies for their respective asbestos liabilities.
    • Environmental coverage matter settled at trial; key issues included interpretation of retro program and allegations of post litigation bad faith.
    • John Hancock in successful appeal of an $85 million judgment in Harris Trust ERISA case.
    • Dispute involving coverage for BI claims settled by manufacturer of PERC-containing products.
    • Arbitration involving number of occurrences under catastrophe reinsurance treaty.
    • Pre-arbitration reinsurance dispute involving claims arising from multiple U.S. pharmaceutical litigations.
    • Arbitration involving allocation of hundreds of millions of dollars arising from workers compensation reinsurance.
    • Overseas Private Investment Corporation in claims brought by a U.S. construction company regarding an investment in the Gaza Strip.
    • ACE with regard to D&O claim against Sears Roebuck and Company.
    • OPIC in political risk coverage arbitrations concerning events in The Democratic Republic of Congo (formerly Zaire) and Guyana.
    • Bermuda-based insurer in coverage disputes and/or arbitrations pertaining to latex glove liabilities, polybutylene piping and radiant heating systems.
    • Asbestos-related coverage dispute in Ohio federal court involving novel non-products claim.
    • Successfully represented Allstate Insurance Company in Quackenbush v. Allstate Ins. Co., 517 U.S. 706 (1996), a case in the United States Supreme Court raising numerous issues, including the enforcement of an arbitration clause in a reinsurance contract against the liquidator of an insolvent insurer.
    • Various entities in disputes relating to insurance transactions in the London market. These assignments have included the representation of one of the largest U.S. insurance brokers in proceedings before the UK courts and government and administrative regulatory authorities related to transactions at Lloyd’s.
    • Two reinsurers in ad hoc arbitrations seeking retrocessional reinsurance coverage.
    • ACE in D&O coverage dispute with AT&T.
    • A reinsurer in a surety bond reinsurance arbitration involving disclosure of risk issues.
    • An insurer in reinsurance arbitration involving assertion of defense of set-off.