Insurance Litigation & Regulatory Defense

Experience

    • Resolution Life in a seven day bench trial resulting in an award of $75 million in damages and pre-judgment interest. The case stemmed from an attempted 2017 transaction in which Resolution Life sought to sell its Nebraska-based life insurance company, Lincoln Benefit Life, to Global Bankers Insurance Group.
    • Prudential Financial, John Hancock Life Insurance Company, AXA Equitable, Guardian Life, Massachusetts Mutual and Teachers in the successful dismissal with prejudice of a qui tam complaint, brought under the New York False Claims Act, seeking over $14.5 billion in damages for alleged failures to escheat life insurance benefits to the state. The dismissal followed successful representations of each firm in a years-long investigation by the New York Attorney General (NYAG) into the escheatment practices of the life insurance industry, at the conclusion of which NYAG declined to pursue the claims itself.
    • Ambac Assurance Corporation, 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 policyholder class action regarding use of retained asset accounts in connection with service members group life insurance.
    • 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.
    • 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 a 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 against Royal & Sun Alliance 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 a successful trial in the S.D.N.Y. of claims brought under ERISA on behalf of 200 retirement plans against State Street, resulting in $77 million in damages.
    • 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.
    • 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.