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 US, 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 US. 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 US, 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, as reported by the LexisNexis Martindale-Hubbell Law Directory.
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.
Ned's experience includes the representation of commercial insurers in complex multi-party litigation, arbitrations, mediations and claims investigations, including the following:
- 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. Federal Home Loan Mortgage Association v. Certain Underwriters at Lloyd's, 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. SunTrust Banks, Inc. et al. v. Certain Underwriters at Lloyd's, London, 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. Lehman Brothers Holdings, Inc. v. Aspen Insurance UK Limited, 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. RealPage, Inc. v. ACE European Group, Ltd., 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. J.P. Morgan Securities Inc., et al. v. Vigilant Insurance Company, et al.
- 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. Delta Financial Corp. v. Westchester Surplus Lines Insurance Company
- 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. Prudential Equity Group LLC v. Chubb Custom Insurance Company, et al.
- 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. Edwards 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. Datascope Corp. v. Great Northern Insurance Company
- 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 US, Canada, Japan, China, Argentina and Bermuda.
- New York
- US District Court for the Southern and Eastern Districts of New York
- US Court of Appeals for the Second Circuit
- J.D., Columbus School of Law, Catholic University of America, 1997
- B.A., History, Columbia College, Columbia University, 1992
- American Bar Association Tort Trial and Insurance Practice Section
- Claims & Litigation Management Alliance
- New York Bar Association
- Professional Liability Underwriting Society