Scott C. Hecht

Experience

Policyholder Insurance Counseling & Advice

Ongoing insurance representation of corporate policyholders, concerning:

• Business insurance program structure, policy placement and renewal
• Drafting manuscript policies and endorsements to address unique exposures
• Day-to-day policy compliance, policyholder/insurer relationship management and coverage issues related to underlying lawsuits and first-party losses
• Insurance-related transactional support in M&A transactions, historic and new market tax credit deals, and generally concerning contracts and leases
• Financial distress, including receiverships and bankruptcies

Policyholder Insurance Recovery—Claims and Litigation

• Helped secure approximately $170,000,000 in insurance proceeds as insurance coverage counsel to the unsecured creditors committee in the bankruptcy of the Roman Catholic Archdiocese of Saint Paul and Minneapolis.
• Prosecuted and resolved a lawsuit against property insurers that denied coverage for claim by a refinery suffering in excess of $100 million in losses relating to a catastrophic flood.
• Prosecuted and resolved a lawsuit against property insurers that refused to pay policy limits to a public utility in respect of over $70 million in losses caused by a series of earthquakes and tsunamis.
• Resolved before litigation a multimillion dollar claim against a property insurer for business interruption losses arising from a mass shooting incident.
• Resolved a multimillion dollar claim under product contamination/recall policy concerning losses related to pathogen contamination of food products.
• Represented public energy company with respect to D&O insurance and indemnification issues occasioned by alleged multimillion dollar embezzlement by CEO and CFO leading to SEC and state securities commission investigations, criminal prosecutions, and multiple shareholder securities class actions and derivative actions.
• Represented a public technology company with respect to D&O liability insurance and indemnification issues occasioned by SEC investigation and derivative action based on CEO's alleged use of corporate assets for personal purposes.
• Resolved before litigation a claim against a professional liability insurer involving multimillion dollar claim arising from alleged error in NAV calculation pertaining to an ETF.
• Secured coverage under fiduciary liability insurance policy for multimillion dollar settlement of consolidated class and mass actions alleging improper modification/ termination of retiree welfare benefits in violation of ERISA.
• Served as coverage counsel to unsecured creditors' committees in multiple bankruptcy proceedings precipitated by bodily injury/emotional distress claims; hundreds of claimants and 50+ years of general liability insurance coverage involved in each proceeding.

ERISA Class Action Defense and Governmental Investigations

• Resolved a nationwide ERISA class action against public telecom companies alleging improper modification/ termination of retiree welfare benefits in violation of ERISA.
• Resolved a nationwide ERISA class action against public health care information technology company alleging improper reimbursement by health plan of out-of-network provider claims.
• Resolved a nationwide class action of mortgage origination company involving claims of interference in violation of ERISA § 510.
• Resolved a putative Missouri ERISA class action alleging that health insurer charged co-pays in excess of those allowed by law.
• Defended multiple Department of Labor (EBSA) investigations involving allegations of breach of fiduciary duty and other ERISA violations involving pension plans, including investigations arising out of employee embezzlements, allegations of failure to diversify plan assets, and precipitous drops in value of employer and other securities.

News

Speaking Engagements

Panelist, "Are Two Policies Better Than One?," American College of Coverage & Extracontractual Counsel Annual Meeting, Chicago, IL, May 2018

Panelist, "Crisis Management and Response," Heartland GRC Roundtable Series, Mission Hills, KS, April 2018

Presentation, "Untangling the Knot of Indemnity and Insurance in Construction Contracts," December 2016, Stinson LLP, Construction Litigation Seminar

Presentation, "Representations & Warranties Insurance," American College of Coverage & Extracontractual Counsel Annual Meeting, Chicago, IL, May 2016

Panelist, "D&O Insurance and Indemnification," Women Corporate Directors Institute, Kansas City Chapter, May 2016

Presentation, "The Yates Memo: D&O Indemnification and Insurance Problems and Solutions", Stinson LLP, Directors' Institute and Proxy Season Workshop, November 2015

Presentation, "Representations & Warranties Insurance," Stinson LLP, seminar on "Hot Topics in Insurance Law," September 2015

Presentation, "Selected Insurance Issues Relevant in Commercial Lending," April 2015

Panelist, "Cyber Insurance: Perspectives from the Insurer, Broker, and Counsel," Stinson LLP, March 2015.

Presentation, "Cyber Insurance: From Nice to Necessity," Stinson Leonard Street LLP Business Law Update, February 2015.

Presentation, "Business Liability Insurance Basics: Scope and Recurring Issues," Stinson LLP, January 2015.

Publications

Scott is a founder of, and primary contributor to, Biz Ins. & Outs, a blog dedicated to providing practical advice and useful information concerning business insurance. See http://bizinsandouts.com/

"Mo’ Coverage Mo’ Problems: Allocation and Related Complications When Multiple Types of Liability Insurance Apply to a Single Lawsuit," American College of Coverage Counsel Annual Meeting, Chicago, IL, May 2018