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Professional Liability/Financial Lines

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At the core of our professional lines/ financial lines practice is Directors’ and Officers’ Liability Insurance, which draws on the support of our colleagues in the White Collar Defense group. Many of them are former State or Federal prosecutors with decades of experience in regulatory enforcement. Whether in connection with D&O coverage claims or in defense of the underlying action against board and management, our lawyers regularly represent participants in securities and derivative actions brought by shareholders, creditors, or policyholders. We also host an annual seminar in New York on developments in International Directors and Officers Insurance with a panel drawn from leading insurers and reinsurers.

Representative Engagements

  • Represent an insurer in a Bermuda errors and omissions (E&O) arbitration flowing from lawsuits and investigations arising out of the payment of contingent commissions to brokers in the U.S. market.
  • Counsel insurers in the London Market exposed to potential claims flowing from the Madoff and Stanford Ponzi schemes.
  • Represented a captive insurer in a reinsurance dispute arising out of the settlement of an employment practices class action.
  • Represented various London market insurers in a professional liability coverage dispute, including a four week trial, concerning the decommissioning of the Maine Yankee nuclear facility.
  • Represented an international life reinsurer in a class action alleging material misstatements in financials concerning certain valuation allowances on deferred tax assets and the company's Sarbanes-Oxley certifications.
  • Represented numerous reinsurers in a surety dispute based on the construction of several off-shore Brazilian oil platforms.
  • Advised London insurers in the context of coverage issues in other professional matters, including in the health care and legal malpractice areas.
  • Monitor underlying defense litigation with respect to directors and officers (D&O)/E&O claims, and act as both coverage and monitoring counsel.
  • Conduct internal investigations of reserving practice of insurers and reinsurers.