Breadth and Depth of Trial Experience for Insurance Company Clients
Some of the world’s largest insurance companies partner with Kasowitz to resolve their most challenging and complicated problems. Our insurance and reinsurance litigation team has the breadth and depth of trial experience to help our insurance company clients, including senior directors and officers, navigate complex litigations. We have represented our insurer clients in trial courts, appellate courts and bankruptcy courts, as well as various international and domestic arbitration tribunals.
Our insurer clients include AIG, AmTrust, Fairfax Financial, MBIA, MetLife, Nationwide and PURE.
Our team has extensive experience in all aspects of insurance-related litigation, including:
- representing insurers in coverage disputes with policyholders on all matters of insurance policies;
- representing cedents or reinsurers in reinsurance disputes under facultative and treaty reinsurance;
- representing insurers in disputes with brokers, TPAs and other service providers;
- resisting or enforcing arbitration agreements;
- defending challenges to certain insurance practices or lines; and
- handling insurance-related consumer class action defense.
Fairfax Financial Holdings, the largest insurance company in Canada, in recovering $31 million, including winning a jury verdict of $5.4 million in compensatory damages against hedge fund Exis Capital and a $5.5 million jury verdict in punitive damages against Exis Capital and two former executives in a New Jersey RICO case involving blatant insider trading, market manipulation and short selling attacks by hedge funds and investment firms. Morgan Keegan, originally a defendant, settled with Fairfax for $20 million shortly before trial. In addition to Fairfax’s $31 million recovery on this action, Fairfax secured additional prior settlements with other defendants.
MBIA, one of the world’s largest monoline insurers, in litigation brought by 18 of the world’s largest banks seeking to overturn MBIA’s corporate restructuring which, with the approval of the New York Department of Insurance (now the Department of Financial Services), established a separate company for MBIA’s municipal bond insurance business. After a several-week evidentiary proceeding, the New York Supreme Court ruled in favor of MBIA, upholding MBIA’s restructuring. The banks agreed to drop their challenge to MBIA’s restructuring, and MBIA then received $1.7 billion in cash and a $500 million line of credit for its municipal bond insurance business.
AIG in a dispute with a fortune 100 company concerning coverage for a high profile defamation settlement under multiple professional liability policies.
Nationwide in a dispute with Platinum Partners and several of its executives concerning coverage under a D&O policy.
AIG in a dispute with a fortune 100 company concerning coverage for a significant settlement of an antitrust lawsuit under an employment practices liability policy.
AIG in a dispute with a fortune 500 company concerning coverage for an ERISA lawsuit under a fiduciary liability policy.
AmTrust in a dispute with a managing general agent concerning issues arising from a taxi and limousine insurance program.