Munger, Tolles & Olson has an experienced and cost-effective insurance recovery practice, having obtained more than $2 billion in insurance benefits to date for our clients. The practice includes extensive litigation and arbitration experience, often turning outright insurance coverage denials into insurance payments.
Munger Tolles has a long history of representing policyholders in all types of insurance coverage litigation and arbitration, analyzing insurance issues for our clients and advising clients on restructuring their corporate insurance programs.
We specialize in handling insurance matters under all types of business-related policies, including:
- general liability
- directors and officers liability
- fidelity bond and crime
- errors and omissions, including attorney malpractice
- environmental impairment
- engineering and architecture liability
- business interruption
- first party property damage
Munger Tolles attorneys also advise clients on litigation and counseling issues related to cyber-insurance policies. We analyze existing cyber-insurance coverage and provide recommendations regarding coverage that is best suited for each company, as well as advising policyholders on difficult-to-spot exclusions and caps on liability in cyber-insurance policies. In addition, our experience with assisting insurers in writing cyber-security policies uniquely positions us to advise corporate clients in this area.
We also represent clients in reinsurance litigation and disputes. We strive to provide clients with exceptional results at a lower cost by leanly staffing cases and working efficiently.
The firm’s high-level matters include representing:
- Transocean, as co-counsel, in securing the Texas Supreme Court’s refusal of British Petroleum’s bid to be an unlimited additional insured in a $750 million liability insurance policy related to the 2010 oil spill into the Gulf of Mexico.
- A public company in obtaining a decision from the Ninth Circuit, reversing a district court ruling that there was no duty to defend and instead granting the insured’s motion for summary judgment on the duty to defend, arising from a claim of premature corrosion to on-site and off-site drilling rigs and related facilities.
- A private equity and venture capital company in securing a duty to defend an SEC investigation after the insurer denied coverage.
- A public utility company in obtaining a very favorable settlement of claims under a directors and officers liability policy arising from allegations of breach of fiduciary duty involving the bankruptcy of an affiliate.
- A petroleum refiner in collecting more than $75 million in losses, including for business interruption, arising from a refinery fire.
- A title company in obtaining well in excess of policy limits from a breaching errors and omissions insurer.
- Outside directors of a defunct financial institution in a novel settlement of a high-profile lawsuit, using only insurance assets by assigning policy benefits to the plaintiff after the insurers had denied coverage.
- A public company in obtaining a duty to defend ruling for a construction defect case, from the U.S. District Court, based on a complicated choice of law analysis.
- A public company in obtaining a settlement in which its insurer agreed to pay 85% of the defense costs for a major litigation involving alleged damage to off-shore and on-shore drilling rigs. The case involved substantial conflict of laws issues.
- An investment partnership in obtaining insurance coverage under an errors & omissions policy for investment advisory services claims, after the insurer denied coverage, arguing that the claims were made prior to the policy period. The insurer reversed itself and paid full defense costs.
- Several closely held related companies in obtaining full insurance coverage for fire suppression damages claims asserted by governmental agencies arising from the second largest forest fire in California history. Obtained full policy benefits after one insurer initially denied coverage.
- A limited partnership in obtaining defense and indemnity coverage for a bankruptcy court proceeding in which the plaintiff alleged a fraudulent transfer.
- A public company in a series of cases alleging injury or wrongful death due to asbestos exposure.
Cary B. Lerman (213) 683-9163