Covington & Burling LLP | Biographies

Bert Wells is a partner in the insurance coverage and litigation practices of Covington & Burling LLP. He has more than ten years of experience in representing policyholders, including Fortune 100 and 500 policyholders, on complex insurance coverage matters. His practice focuses on assisting policyholders in the structuring of insurance recovery strategies, negotiating settlements, and resolving large claims through litigation, arbitration and mediation, including in policyholder bankruptcy proceedings and insurer insolvencies. He has assisted policyholders in recovering more than $500 million in insurance coverage from a wide range of insurers, including the London market, AIG/Chartis, Chubb and Zurich. His experience encompasses many types of claims and losses, including coverage for underlying asbestos, environmental, toxic tort, securities, fiduciary, crime/fraud, fidelity, first-party property, cyber-risk, directors and officers, mortgage guaranty and errors and omissions claims and losses.

In connection with corporate mergers, acquisitions, divestitures and other transactions, Mr. Wells advises on the assessment and structuring of insurance assets and underlying liabilities, both before and after transactions have occurred. He also regularly advises policyholders in connection with policy renewal negotiations regarding directors and officers, errors and omissions, professional services, fiduciary, employment practices, cyber-risk and other liability policies, including negotiating modifications to standard policy wording to conform the coverage to policyholders' specific risk profiles.

Representative Matters

Represent policyholder in obtaining directors and officers coverage in the US and Europe for multi-billion dollar underlying breach of fiduciary duty claim.
Represent Fortune 500 specialty equipment corporation in the recovery of insurance for asbestos claims and other toxic torts, including resolution of multi-state coverage litigation through global coverage-in-place settlement.
Resolved claims of a regional bank against its non-performing mortgage-guaranty insurance carrier respecting half-billion dollar mortgage portfolio through federal litigation and mediation.
Represented Fortune 500 company in restructuring under-utilized insurance assets relevant to corporate divestitures following 12-year dispute over underlying liabilities, resulting in substantial gains for client and counterparty.
Represented the State of Minnesota in litigation and settlement of two litigations against major insurance companies under Minnesota’s Landfill Cleanup Act.
Represented Uniroyal and Uniroyal Holding in multi-state insurance coverage litigation and settlement strategy, and negotiated numerous coverage settlements, arising from the manufacturer’s exposure to asbestos and other mass tort litigation throughout the US, and to liability for hazardous waste disposal.
Advise one of world’s largest retailers regarding its annual directors and officers insurance review and policy renewal negotiations.
Advise one of the largest financial advisors and financial institutions in the US on renewal negotiations for financial/professional liability lines.