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- Professionals
- Matthew J. Schlesinger
Matt Schlesinger represents policyholders nationwide in insurance coverage disputes and counsels clients on insurance-related issues. Legal 500 reports that Mr. Schlesinger “has a depth and breadth of experience and is very sensitive to business needs.” Using a combination of litigation and alternative dispute resolution, Mr. Schlesinger has cost-effectively recovered hundreds of millions for clients in a wide variety of hotly contested complex, multi-party cases. His clients range from Fortune 100 companies to smaller public and privately held entities, and include large financial institutions and international technology companies.
Mr. Schlesinger has particular experience obtaining coverage under financial institution and other crime bonds for losses resulting from large, sophisticated frauds, as well as handling coverage for shareholder and customer-driven financial services related claims, including under directors and officers, professional liability, and specialty policies. He also has successfully handled cyber-liability, first-party property damage and business interruption, environmental and asbestos liability, intellectual property, and a range of other claims and coverage disputes and issues. He often is retained to help negotiate a resolution to the underlying matter, as well as the insurance coverage dispute.
Mr. Schlesinger also actively consults on policy renewals, helping clients obtain the most favorable policy terms possible. He speaks, writes, and is quoted on insurance coverage issues and has co-chaired or participated in numerous insurance coverage conferences.
- Achieved a very successful near $250 million settlement of the St. Thomas Frenchman's Reef Resort property damage/business interruption claim, one of the largest arising out of Hurricanes Irma and Maria, weeks before trial after winning a forum battle (keeping the case in St. Thomas as opposed to New York), successfully obtaining a very aggressive litigation schedule and prevailing on certain key discovery motions.
- Advised a public global investment bank in connection with coverage for an aiding and abetting breach of fiduciary duty claim.
- For a global systemically important bank (or G-SIB),advising on insurance coverage issues relating to resolution planning.
- For a New York-based publicly traded international investment bank, successfully handling the crime bond coverage work arising from the well-publicized fraud of a former partner and also handling the E&O and D&O policy coverage work.
- For former officers and directors of MF Global, handled hundreds of millions of dollars’ worth of D&O and E&O coverage claims arising from bankruptcy trustee, shareholder, and customer-related litigation.
- Litigated and successfully resolved coverage for Freddie Mac under a financial institution bond for a $100 million-plus fraud loss arising out of one of the largest ever financial frauds.
- For a Fortune 200 international company, successfully resolved a multi-million dollar fidelity bond claim resulting from a fraud in their Moscow, Russia office involving sham vendors.
- For a large bank, providing advice on their financial institution bond and computer crime policy.
- Pursuing coverage for a large mortgage industry company for the first-ever challenge to a CFPB administrative action and Director’s enforcement ruling.
- Prevailed in the Eleventh Circuit on an issue of first impression, preventing an insurer from rescinding a Mortgage Bankers Bond on the basis of misrepresentations by the owner who stole third-party funds.
- For Fannie Mae, handled all D&O and fiduciary liability coverage issues arising out of the shareholder and other litigation, stemming from one of the largest restatements, including obtaining coverage for fines levied against senior officers.
- For the U.S. operations of a German bank, in the context of a renewal, reviewed and advised on all professional, cyber and crime coverage.
- Handled all coverage issues arising out of Fannie Mae’s placement into conservatorship, as well as alleged subprime mortgage loan related shareholder and ERISA litigation.
- Litigated and successfully resolved multiple financial institution bond claims arising from various Ponzi schemes and other frauds involving losses in the multiple tens of millions of dollars.
- For a publicly traded technology company, successfully resolved coverage under traditional and cyber-insurance policies for a purported class action involving the use of consumer data.
- For a leading Fortune 100 banking and financial institution and others, successfully resolved mortgage insurance coverage disputes arising from the rescission of hundreds of millions of dollars’ worth of mortgage insurance on thousands of mortgage loans and pools.
- For a well-known Fortune 500 international food company, successfully resolved a disputed D&O claim arising out of alleged antitrust violations.
- For a Fortune 500 multi-national technology company, successfully resolved days before trial a significant professional liability claim arising from a legacy business after successfully resolving related claims.
- Successfully resolved various discrimination claims under CGL and employment practices policies arising out of matters involving alleged credit scoring and sexual discrimination.
- Successfully obtained coverage, on behalf of airbag initiator manufacturer, after a four week, bad faith/punitive damages trial involving business interruption and property damage claims for explosions at two manufacturing facilities.
- Handled disputed first party property and business interruption claims arising from the breakdown of large manufacturing equipment, including an earthquake simulator and electrical plant generator.
- Won summary judgment and an award of attorney's fees in a hotly contested D&O liability matter.
- Successfully resolved first-party property and business interruption claims involving extensive water and mold damage to a hotel.
- Obtained favorable settlements in disputed environmental cases, including involving alleged contamination at an apartment complex and a heavily litigated matter involving hundreds of sites in multiple states.
Memberships and Affiliations
- Fidelity Subcommittee of the Insurance Coverage Litigation Committee of the American Bar Association, Co-Chair
- Washington Lawyers’ Committee for Civil Rights and Urban Affairs, Trustee
The ABC’s of D&O Coverage: Appraisals, Bump Ups, and Choice of Law
November 20, 2019
July 24, 2018, Covington Alert
Phishing, spoofing, and computer-based scams pose a significant threat to businesses. Yet in recent years many victims of these scams — also variously referred to as "business email compromise," "social engineering," "fake creditor," or "fake president" fraud — have found that their insurers refused to pay claims for their computer-related fraud losses.
June 5, 2018
WASHINGTON—Covington’s Insurance Recovery practice has received the 2018 Chambers USA "Award for Excellence" in Insurance, marking the seventh time the firm has received this honor in the 12 years it has been awarded. The "Award for Excellence" is given to one U.S. firm representing policyholders in the insurance coverage field. In addition to the award, ...
Insurance Sector Applications of Blockchain
April 25, 2018, Cyber Sector Risk |Blockchain Security - Cryptocurrency, Insurance & Practice of Law Chair and Panel Speaker
January 17, 2018, Covington Alert
Dozens of pharmaceutical manufacturers, wholesale distributors, and retailers have been named as defendants in opioid-related lawsuits, investigations, and congressional inquiries across the country. These actions and investigations include allegations that defendants misleadingly marketed opioids, failed to comply with regulatory requirements to report ...
June 14, 2017
WASHINGTON—Covington’s Insurance Recovery practice has received the 2017 Chambers USA "Award for Excellence" in Insurance, marking the sixth time the firm has received this honor in the 11 years it has been awarded. The "Award for Excellence" is given to one U.S. firm representing policyholders in the insurance coverage field. In addition to the award, Covington ...
Rumble In The Jungle Part II: Key Issues In The Duty To Defend Arena
April 26, 2017, Tort Trial and Insurance Practice Section (TIPS) Conference
Financial Services Industry Session, Moderator
April 2017, RIMS 2017 Annual Conference & Exhibition
January 5, 2016
WASHINGTON, DC, January 5, 2016 - Covington announced that Matthew Schlesinger has joined the firm as a partner in its insurance recovery practice. “Matt has a strong track record of success in the insurance recovery field, in particular on behalf of policyholders in the financial services sector,” said Mitchell Dolin, co-chair of the firm’s global coverage ...
October 14, 2015, The Policyholder Perspective
Staying ‘Afloat’ in Troubled Waters: How Crime Insurance “Plugs” Potential Holes in Maritime Insurance and ‘Bails’ You Out!
April 29, 2015, RIMS 2015 Annual Conference & Exhibition
Trial Techniques and Strategies for Insurer Bad Faith Cases
January 7, 2015, National CLE Conference
What is the Role of Bad Faith Causes of Action in Fidelity Coverage Litigation?
November 5, 2014, ABA Fidelity & Surety Law Committee Fall 2014 Meeting
Cyber and Data Liability: Understanding the D&O Exposure
September 30, 2014, American Conference Institute's 18th Forum on D&O Liability
Construction Defect Claims: Don’t Let Your Money Fall Through The Cracks
April 30, 2014, RIMS 2014 Annual Conference & Exhibition
Insurance: What In-House Counsel Should Know But May Not
February 14, 2013, ABA Section of Litigation Committee on Corporate Counsel CLE Seminar
Security & Data Privacy: Liability and Insurance Trends
December 6, 2012, American Hotel & Lodging Association Risk Management Meeting
Credit Crisis and Fallout...Insurance...Are You Covered?
February 20, 2008, Teleseminar
February 26, 2007, Legal Times
- Chambers USA, Insurance: Policyholder (2018-2019)
- Legal 500 US
- Washington, DC Super Lawyers, Insurance Coverage (2013-2018)
- Washington Lawyers’ Committee for Civil Rights and Urban Affairs Outstanding Achievement Award in the fields of Equal Employment Opportunity and Immigration & Refugee Rights.
- Rated an AV-Preeminent lawyer by Martindale-Hubbell.
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