Financial Products Coverage Litigation & Counseling
Steptoe attorneys have been at the forefront of litigation involving more modern insurance products designed to cover financial investments. Recently, these products have taken the form of credit and/or clean-up cost protection associated with commercial real estate loans.
The resulting disputes implicate numerous underwriting representations, lending criteria, servicing activities, timeliness of notice, and complex environmental issues, all within the context of financial transactions worth hundreds of millions of dollars. These novel circumstances have required Steptoe attorneys to draw on their many years of experience to develop strategies for successfully handling these disputes in the context of high-stakes confidential arbitration.
We also have represented our insurance clients in complex coverage disputes arising from banking and financial institution operations, addressing questions such as what constitutes an “occurrence” for purposes of insurance coverage and whether the harm for which coverage is sought was expected or intended.