Edward P. Krugman

PARTNER

Ed has successfully litigated in areas ranging from contested takeovers to securities fraud to reinsurance coverage in state and federal courts throughout the country, at trial and on appeal. He has more than twenty years of experience litigating and structuring transactions in insurance and reinsurance and has represented ceding companies and reinsurers in over one hundred contested reinsurance matters, often involving massive financial exposure.

Ed represents ceding companies and reinsurers in arbitrations and litigations involving allocation of environmental and other claims, rights and obligations of pool members vis-à-vis their fronting companies and pool managers, interpretations of aggregate extension clauses, obligations under finite reinsurance contracts and related areas.

He has been a faculty member at ARIAS and Mealey's Reinsurance Conferences and has advised on and litigated numerous other matters concerning the business of insurance and insurers, including insolvency, MGA relations, bad faith, complex coverage issues, and various governmental and regulatory investigations.

Ed is recognized as one of the top six reinsurance lawyers in the country and one of the top six general insurance litigators in New York (top 13 nationwide) by Chambers USA (2008).

• Successfully represented an insurer in disputes in New York Supreme Court and before regulators arising from the termination of a managing general agency involving more than $1 billion in premium.
• Defense counsel for insurer in a putative class action in Alabama State Court alleging a $3.2 billion fraud in connection with the settlement of prior class and derivative litigation.
• Defeated (after an 18-day arbitration) claim under a political risk insurance policy involving the alleged expropriation of a power plant in Inner Mongolia.
• Representing an issuer of large-limit pollution legal liability/clean-up policies in claims aggregating in excess of $500 million.
• Representing a retocedent in an antitrust challenge to the formation of Equitas and its ongoing retrocessional claims handling.
• Represented ceding companies in uncovering and prosecuting a $40 million theft of fiduciary funds by a reinsurance broker (now in prison) and the related civil and reinsurance recoverable proceedings.
• Defeated on summary judgment a claim for rescission of a reinsurance contract whose $50 million aggregate limit had fully attached.
• Global coordinating counsel for affiliated insurers on hundreds of millions of dollars in film finance insurance claims, including handling and/or supervising insurance, reinsurance, and RICO litigation and arbitration in the United States, the UK, Europe, and Australia.

Ed is a director of the National Center for Law and Economic Justice. He became a partner in 1987.