Law360 Names Steptoe ‘Insurance Group of the Year’ for Third Year in a Row

For the third consecutive year, Steptoe’s Insurance Group has been named a Law360 Insurance Group of the Year.  In a profile published on January 11, the editors highlight some of the group’s successes over the past year including a major win in November when West Virginia’s Supreme Court of Appeals reversed an $8 million jury verdict against Travelers over silica liability.

Another key litigation win involved a summary judgment ruling for Zurich Insurance Co. in asbestos coverage litigation brought by Maremont Corp. in Delaware federal court.  In that suit, Maremont sought coverage from Zurich for asbestos claims filed against it over the past 35 years.  The federal court's summary judgment ruling for Zurich slashed its potential liability in the case from up to $1.5 billion to a fraction of that, finding that four out of five years of the policy at issue do not offer coverage for Maremont's asbestos-related issues.

"It was a case involving intriguing issues of Swiss law and asbestos coverage, and a huge amount of money at stake in Delaware," practice head Harry Lee says.  "This was an important summary judgment win."

The full profile can be read at Law360 (subscription required).