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Edward Kirk

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Edward Kirk

Edward Kirk

Partner

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Profil & Expérience

Offices & Regions covered
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Edward (Ned) J. Kirk is a partner in our New York office. He represents domestic and international insurers and reinsurers in commercial insurance matters, including professional liability, directors and officers liability (D&O), fiduciary liability, errors and omissions, fidelity, commercial crime, general liability, reps and warranties, property, business interruption and cyber risk claims. He has successfully defended insurers in complex and high dollar value coverage and bad faith litigation in federal and state courts across the United States, and has extensive experience resolving coverage disputes and underlying claims through alternative dispute resolution proceedings, including mediation, arbitration and CPR mini trial.

Ned has handled numerous high profile insurance matters involving financial institutions and D&O coverage and claims arising from fraudulent schemes, regulatory investigations, shareholder litigation and other types of complex commercial lawsuits against financial institutions, public companies, investment advisors and their directors and officers.

Many of Ned's cases involve cross border legal issues and exposures in jurisdictions outside of the United States. He works closely with Clyde & Co's offices in Europe, the Middle East, Asia, Australia and South America on international claims investigations and coverage litigation. He frequently advises insurers in the United States, Europe and Asia regarding policy wording, underwriting issues and product development.

Ned holds an AV Peer Review Rating, the highest ranking for legal ability and general ethical standards, from Martindale-Hubbell.

He is a frequent speaker at insurance industry and Clyde & Co events around the world, has published numerous articles on various topics relating to commercial insurance law and financial institution risks and is often asked to comment on professional liability insurance risks and trends.

Admissions

  • New York
  • Connecticut
  • US District Courts for the Southern, Eastern and Northern Districts of New York
  • US Court of Appeals for the Second Circuit

 

Education

  • J.D., Columbus School of Law, Catholic University of America, 1997
  • B.A., History, Columbia College, Columbia University, 1992

Memberships

  • American Bar Association
    • Tort Trial and Insurance Practice Section
  • Claims & Litigation Management Alliance
  • New York Bar Association
  • Professional Liability Underwriting Society (PLUS)
Expérience
  • Virgin Islands Water and Power Authority v. Lloyd’s Syndicate NAV 1221, et al. Fidelity insurers in a bad faith coverage action in the US District Court for the District of the Virgin Islands seeking computer crime coverage for social engineering losses.
  • Federal Insurance Company v. Healthcare Information and Management Systems Society, Inc. D&O insurer in a bad faith coverage action in the US District Court for the Northern District of Illinois seeking coverage for defense costs and settlement of lawsuits relating to cancellation of global tradeshow due to COVID-19.
  • CapLOC LLC v. Liberty Mutual Insurance Europe Ltd, et al. Fidelity insurers in a bad faith coverage action in the US District Court for the Northern District of Texas seeking coverage for purported loan losses of USD 24 million.
  • Northrop Grumman Innovation Systems, Inc. v. Zurich American Insurance Company, et al.  D&O insurer in a coverage action in Superior Court of Delaware seeking coverage for defense costs and a settlement in an underlying securities class action in the US District Court for the Eastern District of Virginia.
  • Peter Little v. XL Insurance Company SE. D&O insurer in a bad faith coverage action in the US District Court for the Southern District of New York that resulted in dismissal of all claims on a motion to dismiss.   
  • Federal Home Loan Mortgage Association v. Certain Underwriters at Lloyd's, et al. Fidelity insurers in a coverage action brought by Freddie Mac in US District Court for the Southern District of New York seeking coverage for USD 111 million in mortgage losses.  
  • SunTrust Banks, Inc. et al. v. Certain Underwriters at Lloyd's, London, et al. Professional liability insurers in a coverage action in Georgia Superior Court seeking USD 475 million in coverage for losses arising from the subprime crises and ensuing credit crunch.
  • Lehman Brothers Holdings, Inc. v. Aspen Insurance UK Limited, et al. Fidelity insurers in a coverage action brought by Lehman Brothers in New York Supreme Court seeking coverage for purported credit losses in Japan of almost USD 300 million.
  • RealPage, Inc. v. ACE European Group, Ltd., et al. Professional liability insurers in a bad faith coverage action in the US District Court for the Eastern District of Texas regarding a claim for defense costs and counter claims for rescission and recoupment.
  • J.P. Morgan Securities Inc., et al. v. Vigilant Insurance Company, et al. Professional liability insurers in a coverage action brought by J.P. Morgan as successor to Bear Stearns in New York Supreme Court seeking coverage for almost USD 200 million in settlements and defence costs relating to mutual fund market timing and late trading.
  • Delta Financial Corp. v. Westchester Surplus Lines Insurance Company. D&O insurer in bad faith action in the US Bankruptcy Court for the District of Delaware that resulted in dismissal of all claims on motion for judgment on the pleadings.
  • Prudential Equity Group LLC v. Chubb Custom Insurance Company, et al. Professional liability insurers in multiparty litigation in New Jersey Superior Court and Delaware Superior Court regarding claim for USD 260 million in judgment and defence costs in an underlying securities class action.
  • Edwards v. Great Northern Insurance Company. Property insurer in a bad faith coverage action in the US District Court for the Eastern District of New York that resulted in summary judgment dismissing extra contractual and tort causes of action and claims for USD 13 million in damages.
  • Datascope Corp. v. Great Northern Insurance Company. Property insurer in a bad faith coverage action in New Jersey Superior Court arising from a claim for coverage under an international property insurance policy for USD 8 million in losses from potential contamination of collagen products with mad cow disease at a plant in the Netherlands.
  • Fidelity insurers in a coverage action in New York Supreme Court brought by a broker dealer seeking coverage for purported trading losses of over USD 100 million. 
  • Commercial crime insurer in binding mediation that resulted in the dismissal of a USD 13 million claim relating to commodities trading losses.
  • D&O insurer in an American Arbitration Association arbitration that resulted in summary judgment dismissing a USD 7 million claim for defence costs.
  • D&O and professional liability insurers and reinsurers in claims investigations and coverage litigation relating to major financial scandals, including Enron, IPO allocation, analyst conflicts, mutual fund market timing and late trading, options backdating, subprime lending, various Ponzi schemes, including Madoff, Dreier and Rothstein, and high frequency trading, and the collapse of financial institutions, including Lehman Brothers, MF Global and various mortgage originators and servicers. 
  • Fidelity and crime insurers in investigations of claims and fraudulent schemes in the United States, Canada, Japan, China, Argentina and Bermuda.

Presentations

  • Co-presenter, “AsiaPac and European Global Financial Institutions and D&O Roadshows,” Webinar, June 2021
  • Chair & Co-presenter, "US Litigation School," Webinar, March 2021
  • Chair, "US Litigation School," Clyde & Co Conference, London, England, November 2019
  • Moderator, "Social Engineering: the Threat, Regulatory Approach and Market Response," Clyde & Co Global Financial Institutions and D&O Conference, London, England, October 2019
  • Panelist, "Liability Risks and Emerging Duties of Care – A Global Taxonomy of the State of Litigation, Regulation and Standard-Setting," Willis Towers Watson and Clyde & Co Climate Change Liability Risk Conference, London, England, July 2019
  • Panelist, "Financial Institutions and D&O Roadshow – Europe," Clyde & Co European conferences, Madrid, Munich, Dusseldorf and Paris, June 2019
  • Panelist, "The Global Financial Institutions and D&O Roadshow 2019," Clyde & Co Asia Pacific Conferences, Sydney, Melbourne, Brisbane, Perth, Singapore, Hong Kong and Beijing, March 2019
  • Chair, "US Litigation School," Clyde & Co Conference, London, England, November 2018
  • "What is Covered 'Loss' Under Financial Institutions and D&O Policies?" Continuing Legal Education Presentations, November 2018
  • Panelist, "Warranty & Indemnity Insurance: Maturing Market or Problem Child?" Clyde & Co Global Financial Institutions and D&O Conference, London, England, October 2018
  • Panelist, "Financial Lines Global Liability and Regulatory Trends," MENA and India Financial Lines Symposium, Muscat, Riyadh, Dubai, New Delhi and Mumbai, October 2018
  • "What is Covered 'Loss' Under Financial Institutions and D&O Policies?" Continuing Legal Education Presentation, June 2018
  • Panelist, "Financial Institutions and D&O Roadshow – Europe," Clyde & Co European Conferences, Madrid, Munich, Dusseldorf and Paris, June 2018
  • "Depositions in US Coverage Actions," client conference, London, England, April 2018
  • "The Economics of Risk; Insurance in the Age of Globalization and High Tech," Leiden University, The Hague, The Netherlands, April 2018
  • Panelist, "The Global Financial Institutions and D&O Roadshow 2018," Perth, Singapore, Hong Kong and Shanghai, March 2018
  • Moderator, "Quantum in Securities Claims – A Global Perspective," and Speaker, "Disgorgement As A Penalty: the Impact of Kokesh v. SEC," Clyde & Co Annual Global Financial Institutions and D&O Conference, London, England, October 2017 
  • Panelist, "The Changing Landscape of Financial Institution and D&O Liability," Clyde & Co European Conference, Madrid, Paris, Munich and Dusseldorf, June 2017
  • Panelist, "D&O and Financial Institutions Global Claims and Coverage Trends," Clyde & Co Asia Pacific Conferences, Beijing, Hong Kong, Singapore, Perth, Melbourne and Sydney, March 2017
  • "Climate Change and Directors and Officers Liability," client conference, London, England, January 2017
  • Panelist, "US Litigation Workshop," Moderator, "Warranty and Indemnity Insurance – Reflections on a Maturing Market," Clyde & Co Annual FI/D&O Conference, London, England, October 2016
  • Panelist, "The Evolving Nature of Regulatory and International Exposures for Directors and Senior Managers," Clyde & Co Annual MENA Financial Lines Symposium, Kuwait, Doha, Dubai, Riyadh and Bahrain, September 2016
  • "Key Claims and Coverage Issues in D&O Insurance Around the World," Clyde & Co Asia Pacific Conferences, Shanghai, Hong Kong, Singapore, Sydney, Melbourne, Perth, March 2016
  • Moderator, "What is Covered Loss?" Clyde & Co Annual FI/D&O Conference, London, England, October 2015
  • Panelist, "Evolving Global Exposure and Insurance Coverage Trends," Clyde & Co MENA Insurance Conferences, Dubai, Riyadh, Doha, March 2015
  • "Back to the Future: Old US D&O Trends Re-Emerge While New Exposures Develop," Clyde & Co Asia Pacific Conferences, Shanghai, Hong Kong, Singapore, Sydney and Perth, March 2015
  • Moderator, "Cyber Crime: Crime of the 21st Century?" 2014 PLUS Professional Risk Symposium, Atlanta, Georgia, April 2014
  • Panelist, "Financial Institutions and D&O Insurance Trends," Clyde & Co Asia Pacific Conferences, Sydney, Singapore, Hong Kong, Shanghai and Perth, March 2014
  • "The Impact of Mergers and Acquisitions on Coverage," The Fidelity Law Association 2013 Annual Conference, Boston, Massachusetts, November 2013
  • Moderator, "Key Issues for the London FI and D&O Market," Clyde & Co Annual FI/D&O Conference, London, England, October 2013
  • Panelist, "The Growing Concerns of Cyber Crime: Potential Gaps in Coverage Between Crime and Cyber Liability Coverage," PLUS Conference, New York, New York, September 2013
  • "A Relative Calm: US FI/D&O Risks and the Extraterritorial Application of US Law," Clyde & Co Asia Pacific Conferences, Sydney, Perth, Singapore and Hong Kong, April 2013

Publications

  • Co-author, “Shareholders Increasingly Targeting D&Os of Foreign Companies in New York Derivative Actions,” Clyde & Co and client joint publication, September 2021

  • Co-author, "Will Toshiba 'Open the Floodgates' to US Securities Litigation Against Foreign Companies?" Clyde & Co Financial Institutions and D&O International Review, November 2019

  • Co-author, "A Rising Tide in Climate Change Litigation; Could a Precedent Setting Ruling Be Coming Soon?" CLM Magazine, February 2019
  • Co-author, "Ramirez v. Exxon; The Tip of the Iceberg for Climate Change Disclosure Claims?" PLUS Journal, October 2018
  • Co-author, "Litigation Funding; A Global Snapshot," Clyde & Co publication, March 2018
  • Co-author, "Recent Decisions Clarify the Reach of US Securities Laws under the Second Prong of Morrison," Clyde & Co International Review, July 2017 
  • Featured in “Trump Takes Aim at Class Actions,” Insurance Asia News, March 2017
  • Co-author, "Holding the Line: The Application of Professional Services Exclusions in D&O Policies," Insurance Day and Clyde & Co International Review, October 2016
  • Quoted in "D&O: How Low Can it Go?" National Underwriter Property & Casualty, September 2016
  • "United States FI and D&O Developments: A Snapshot," Clyde & Co International Review, May 2016
  • Featured in "US-Listed Companies Under D&O Scrutiny," Insurance Asia News, March 2016
  • "The Possession and Control Requirement for Third Party Losses Under Fidelity Bonds," Clyde & Co International Review, September 2015
  • "High Frequency Trading - The Threat to Insurers," Reactions Magazine, November 2014
  • "Flash Claims: Financial Institutions Targeted for High Frequency Trading," Clyde & Co International Review, September 2014
  • "Letter from America - Financial Institutions and D&O Trends in the US.," Mondaq and Clyde & Co International Review, April 2014
  • Co-author, "Adjusting to Change: Fidelity Coverage Situations on Both Sides of Merger and Acquisition Transactions," Fidelity Law Association, November 2013
Sectors

Sectors

  • Assurance et réassurance

  • Pratiques professionnelles

Services

Services

  • Litiges commerciaux

  • Risques liés aux changements climatiques

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