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Nathan Lander

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Nathan Lander is a partner in the Insurance Recovery & Counseling Group who represents clients in high-stakes disputes with their insurance companies as well as counseling them regarding a wide array of insurance issues.  Clients have praised Nate in Chambers and The Legal 500 as being “responsive, knowledgeable and creative,” a “zealous advocate” and “absolutely amazing to work with.”

During the course of his career, Nate has assisted clients in recovering more than $1 billion in disputes with their insurers through litigations, arbitrations, mediations and negotiations.  Nate prides himself in helping clients reach favorable resolutions with their insurers where possible, but when insurers refuse to pay, Nate has aggressively litigated coverage disputes against them in courts and arbitrations throughout the country.

Although Nate has represented a wide range of policyholder clients – including Fortune 500 companies and professional sports teams, among others – Nate is particularly well-known for his representations of asset management clients in insurance disputes.  Nate has represented numerous private equity firms and portfolio companies, hedge funds, registered funds, venture capital firms, and other asset managers in disputes with insurance companies, including claims for coverage under D&O, E&O, crime, life, property, and other policies.  For example, Nate was recently lead counsel for a private equity firm in a litigation over $100 million of coverage its insurers refused to provide for claims against the private equity firm arising from the bankruptcy of a portfolio company.

In addition to his litigation practice, Nate also regularly advises clients on risk management issues, including structuring of insurance programs and the negotiation and drafting of policy language, in order to help protect clients in the event of a claim or loss.  Nate has particular experience with respect to the insurance markets and products for asset management clients.  He has assisted numerous asset managers of all types and portfolio companies in reviewing and negotiating potential insurance policies or programs, including D&O, E&O, EPL, fiduciary, crime, cyber, reps & warranties and other specialized products.

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Everything, everywhere, all at once is our risk thesis for 2023, but one must not forget about concentration risk.  This issue has rocketed up diligence agendas for LPs and GPs alike as the collapse of Silicon Valley Bank proved it really was the bank for venture capital.The entry of SVB into receivership on March 10, 2023 highlighted just how central it had become to U.S. venture capital, providing deposit and credit facilities not just to asset managers, but also to many (and in some cases the vast majority) of their portfolio companies and investors.  While deposit accounts were protected in full, companies unable to access those accounts for several days faced significant disruption.  Further, while borrowers were still bound by terms of credit agreements, there was no immediate obligation on the Federal Deposit Insurance Corporation (FDIC) as receiver to honor drawdown requests (although the bridge bank did announce it would honor credit facilities). Net asset value (NAV) lines, subscription lines and investors’ own deposit and credit lines were also affected. The deposits and loans of SVB were acquired from FDIC by First Citizens Bank on March 27, 2023.

Everything, everywhere, all at once, as a descriptor, captures the litigation and regulatory risks for the asset management industry in 2023. Every corner of the market faces greater risks than at any time since 2008. After years of breakneck growth fueled by low interest rates and a largely laissez faire regulatory regime, significant change is here.

“A Fund Managers’ Guide to Maximizing D&O and E&O Insurance Coverage” examines best practices for fund managers—particularly in the current economic climate—for negotiating and obtaining strong insurance protection and maximizing recovery when claims arise. As the economic impact of COVID-19 continues to reverberate across all global industries, there is an…