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-five 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 co-chaired and/or 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 the business of insurers, including insolvency, MGA relations, bad faith, complex coverage issues, and various governmental and regulatory investigations.

Described as "probably the brightest insurance lawyer in New York hands down" by Chambers USA, Ed is recognized as one of the top six reinsurance lawyers nationwide by Chambers USA and is named among the preeminent insurance and reinsurance lawyers in The Best of the Best USA.

• 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.
• Acting as special appellate counsel in the Third Circuit to a facultative reinsurer in a matter involving Bellefonte and notice-of-loss issues.
• Obtained rescission of two separate trade credit policies based upon submission of fraudulent claims.
• Representing a political risk insurer in connection with an asserted expropriation by Mexico.
• Defeated (after an 18-day arbitration) a claim under a political risk insurance policy involving the alleged expropriation of a power plant in Inner Mongolia.
• General representation of an issuer of large-limit pollution legal liability/clean-up policies in numerous claims aggregating in excess of $1 billion.
• Represented ceding companies in uncovering and prosecuting a $40 million theft of fiduciary funds by a reinsurance broker (subsequently imprisoned) and the related civil and reinsurance recoverable proceedings.
• Obtained summary judgment defeating a claim for rescission of a reinsurance contract whose $50 million aggregate limit had fully attached.
• Acted as 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.

RECENT PUBLICATIONS:

• A Quarter Century of Reading the Words: Supreme Court RICO Jurisprudence From Sedima To Boyle, Bloomberg Law Reports - White Collar Crime
• Honorable Engagement, Bloomberg Law Reports - Insurance Law