For companies with claims that trigger historical insurance policies, coverage may have been issued by insurers that have since entered insolvency or rehabilitation proceedings. When that happens, many policyholders may believe that coverage is not available—often based on advice of other counsel. However, Gilbert LLP has been tremendously successful in securing these proceeds.
For example, in addition to recovering millions from solvent insurers for a current client, Gilbert LLP continues to pursue and secure recovery from the estates of now-insolvent insurers that issued policies for periods triggered by recent past and pending claims. Such estates have put up roadblocks to recovery, including arguing that a policyholder has failed to meet procedural steps. Gilbert LLP has successfully overcome such form-over-substance arguments made by multiple insolvent estates, and has recovered for this client millions of dollars that other counsel had deemed unavailable.