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Professional Liability Claim Management

Associated with receiving a new client engagement, we inherited a complex E&O claim against a publicly traded professional services company. The E&O carrier pointed to numerous exclusions in the E&O policy placed by the prior broker as justification for a denial of coverage and/or an argument for a large allocation/insured contribution to settlement. We assisted the client’s legal counsel with coverage analyses on defense cost reimbursement and carrier defense obligations. Additionally, we facilitated multiple in-person settlement discussions between the carrier and client representatives in New York. The carrier ultimately agreed to a policy buyout at the client’s target settlement amount, in excess of $12 million.