Albert Wells (Bert) is a partner in the insurance coverage and litigation practices of Covington & Burling LLP. He began representing commercial policyholders in connection with complex insurance recovery matters in 1995, and regularly represents policyholders, including Fortune 100 and 500 companies, in a wide range of insurance coverage matters.
He advises policyholders on assessing and maximizing the value of claims, developing and executing insurance recovery strategies, negotiating settlements, and resolving large claims through litigation, arbitration and mediation. He has assisted his clients in recovering billions of dollars in insurance coverage over the course of his career.
Mr. Wells has handled insurance coverage matters ranging over many types of insurance and losses, including mass tort liability, natural disaster losses, cyber risks and securities litigation.
In the liability (third-party) insurance arena he has handled coverage claims arising from mass litigation for both alleged bodily injury and alleged property damage, for clean-up and other costs arising from hazardous waste disposal, environmental claims, for securities class actions and derivative claims, creditors’ committee claims, fiduciary, cyber, directors and officers, and errors and omissions and other types of liabilities.
In the domain of property (first-party) insurance, he has handled property damage, business interruption and related losses, including such claims arising from natural disasters such as Superstorm Sandy.
Mr. Wells advises policyholders in connection with policy renewal negotiations, including negotiating modifications to standard policy wording to conform the coverage to policyholders’ specific risk profiles. He also advises on the assessment and structuring of insurance assets and underlying liabilities in connection with corporate transactions.
- Yale Law School, J.D., 1987
- University of Oxford, D.Phil., 1982
- California Institute of Technology, M.S., 1978
- California Institute of Technology, B.S., 1978
Bar Admissions : New York
Representative Matters :
- Represent a public entity in its 9-figure claims for property damage, business interruption and other loss arising from Superstorm Sandy.
- Represent a global building products company in litigation to assure availability of its general liability program to cover a potential 9-figure underlying liability for alleged property damage.
- Represented policyholder in successfully obtaining directors and officers coverage in the US and Europe for multi-billion dollar underlying breach of fiduciary duty claim.
- Resolved claims of a regional bank against its non-performing mortgage-guaranty insurance carrier respecting half-billion dollar mortgage portfolio through federal litigation and mediation.
- Represented the State of Minnesota in litigation and settlement of two litigations against insurance companies under Minnesota’s Landfill Cleanup Act.
- Advised one of world’s largest retailers regarding its annual directors and officers insurance review and policy renewal negotiations.
Memberships and Affiliations :
- Risk and Insurance Management Society (RIMS), Member
- Insurance Coverage Litigation Committee, American Bar Association Section of Litigation, Member
Rate : $$$