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Law360: Insurance Group of the Year - O’MelvenyDecember 07, 2020
O’Melveny has been named an Insurance Practice Group of the Year by Law360. The publication pointed to the firm’s work for Chubb in COVID-19 business interruption disputes and its successful argument on behalf of dozens of insurers against industrywide consolidation of over 130 virus coverage suits before the Judicial Panel on Multidistrict Litigation (JPML) among the achievements that distinguished its insurance team this year.
“One of the things we’re proud of on our team is that we have a very cohesive unit working on both coasts for a variety of clients,” said Richard Goetz, co-chair of the firm’s Litigation Department. The article cites clients such as AIG, Axis Insurance, Sompo Holdings Inc., Starr Indemnity & Liability Co., Chubb, Allianz, and other large insurers.
In July, Goetz led a team of lawyers before the JPML on behalf of the Chubb companies and over 32 carriers against the consolidation of COVID-19 business interruption coverage cases. The team successfully convinced the JPML that a single nationwide proceeding for all COVID-19 coverage suits would be a “nightmare.”
Goetz said that insurers selected O’Melveny to argue before the JPML because “they’ve seen us argue, read our briefs, and knew we would listen and be concise.”
Additionally, the group’s cross-practice capabilities have been particularly advantageous to clients in the current landscape. “O’Melveny has unparalleled experience in the nexus between bankruptcy and insurance law,” Tancred Schiavoni, head of the firm’s Insurance Practice, told the publication. “As litigation of the largest and highest-profile mass torts has increasingly shifted to bankruptcy courts, insurers are finding it essential to be able to deploy lawyers experienced in both bankruptcy and insurance law in bankruptcy actions like these.”
Law360 subscribers can read the full profile here.