Michael Carolan concentrates his practice on litigating, arbitrating and resolving domestic and international disputes involving reinsurance, complex insurance coverage and brokers’ liability. He also counsels clients on regulatory issues, business and settlement strategy, insolvency and liquidation issues, and bad faith exposures.
Michael has represented company and intermediary clients across the life, health and property/casualty markets in disputes regarding policy and contract interpretation, yearly renewable term reinsurance premiums, notice, aggregation of losses, underwriting practices and claims management, life settlements, reinsurance allocations, follow the fortunes and follow the settlements, rescission, fraud, misrepresentation, and sunset and commutation clauses. He has litigated and arbitrated in state and federal courts as well as in a variety of U.S. and foreign arbitral settings.
Michael also has significant experience representing domestic and offshore captive insurance companies and captive managers, providing counseling on reinsurance and fronting arrangements, policy drafting, claims management, regulatory issues and commutation agreements. Prior to practicing law, Michael was a consultant on energy and environmental issues.
Representative Matters :
- Secured on appeal the reversal of summary judgment against a primary insurer in a suit by an excess insurer revolving around application of the antisubrogation rule and the primary carrier’s claims handling process.
- Represented several reinsurers in arbitrations over premium rate increases on various blocks of yearly renewable term life reinsurance treaties.
- Defended a Bermuda excess insurer in a London arbitration involving complex insurance coverage claims relating to significant environmental losses.
- Represented a cedent arbitrating against a reinsurer that sought rescission of dozens of reinsurance contracts and the return of millions of dollars in loss payments, obtaining 100 percent relief, including the attorneys’ fees incurred by the client.
- Represented a London-based reinsurance broker in a dispute involving allegations of errors in the placement of a reinsurance program for international energy risks.
Professional and Community Involvement :
- Co-chair, ARIAS-U.S. Law Committee
- Newsletter Vice Chair, ABA TIPS Excess, Surplus Lines & Reinsurance Committee
- George Washington University Law School, J.D., 2006
- University of Michigan, B.A., 2000
BAR ADMISSIONS : District of Columbia, Michigan
Rate : $$$