The Insurance Recovery Team assists policyholders purchasing fiduciary and directors and officers liability policies in this hard market, and works with clients to develop new financial vehicles to meet their unique needs where traditional coverage cannot do so. The Insurance Recovery Team also regularly advises on, litigates, arbitrates and settles disputes involving this coverage.
By way of example, the Insurance Recovery Team recently helped a financial institution obtain insurance coverage for investigative costs and a portion of the settlement it reached with the Department of Justice relating to its investigation of certain Federal Housing Administration (“FHA”) loans.
We also secured favorable rulings for Sealed Air Corporation, rejecting its D&O insurer’s novel use of pollution exclusion to contest coverage for alleged federal securities violations in connection with bankruptcy alleged fraudulent conveyance.
The firm also helped a prominent telecommunications company secure millions of dollars in fiduciary coverage, while it seeks millions of dollars more. The firm likewise represents: a Fortune 500 corporation and its executive in a coverage case arising from their alleged fraudulent conveyance of nearly $1 billion of a subsidiary's stock; a brokerage firm seeking recovery of approximately $30 million in losses caused by the alleged wrongful acts of its officers and directors; officers of an investment fund that was sued by both the SEC and its investors; directors and officers of a large industrial concern whose D&O insurer declined coverage for securities claims based on a pollution exclusion; and a company whose D&O insurer has declined to reimburse all of its directors’ and officers’ reasonable defense costs in securities and fiduciary matters.