In most cases, the policyholder’s bottom line is the amount of the insurance recovery. Our firm has leading national practices in insurance litigation, arbitration and negotiation, and, over their careers, our coverage lawyers have helped policyholders recover well in excess of $15 billion for a vast array of liabilities. In fact, since January 1, 2000, our coverage lawyers have assisted policyholders in reaching more than 200 insurance settlements and other recoveries ranging from less than a million dollars to hundreds of millions.
This representative list of recoveries for Covington’s insurance clients speaks for itself:
- More than $1.5 billion in asbestos-related and other coverage for Owens Corning.
- More than $1.5 billion for Dow Corning's breast implant claims.
- More than $200 million in recoveries for railroad clients for FELA Claims.
- More than $600 million in recoveries for pharmaceutical product liability and related claims.
- More than $300 million in recoveries for first party property damage and business interruption claims arising from earthquakes, floods, 9/11, and many other causes for a number of clients, including companies in the financial, transportation, consumer products, sports, and utility sectors.
- More than $750 million for Armstrong's asbestos claims.
- More than $1.3 billion resulting from scores of recoveries for many other clients with asbestos exposures (in addition to those noted above).
- $780 million for Exxon Valdez claims.
- More than $100 million in other recoveries for medical supply and medical device clients (in addition to those noted above).
- More than $250 million in recoveries for a number of large utilities for environmental claims.
- More than $400 million in recoveries for several steel and mining companies’ environmental claims.
- More than $100 million in recoveries for the State of Minnesota under the precedent setting “Landfill Clean-up Act”.
- More than $400 million in other recoveries for environmental claims across a broad range of industries (in addition to those noted above).
- More than $100 million in D&O recoveries for a variety of clients.
- More than $10 million in E&O and professional liability recoveries for clients in the software, IT, transportation and other sectors.
- More than $15 million in recoveries involving UK “solvent schemes of arrangement”.
- More than $40 million in coverage for employment practices including such liabilities as alleged discrimination, wrongful termination and harassment.
- More than $500 million for a wide variety of other recoveries not otherwise captured in any above category (including antitrust, unfair competition, financial bonds, construction defects, 401K, agent orange, fiber optic, false advertising, defective product, etc.).
- Scores of “agreed claims,” “established scheme liabilities” and other recoveries from insolvent insurers (both domestic and foreign).
- Many large recoveries from State Guaranty Funds.
- More than 50 settlements and other recoveries with Lloyds/Equitas and the solvent London Market, including many eight and nine figure settlements.
- Many settlements and other recoveries involving the Bermuda market.
- Scores of “coverage-in-place,” “interim funding agreements” and related agreements locking in billions in potential coverage to be used by our policyholder clients on an “as needed” basis.
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