Thomas S. Novak

Thomas S. Novak

Member
 

Mr. Novak, Chair of the Insurance and Reinsurance Practice, has specialized in insurance and reinsurance law for 25 years in the representation of both policyholders and carriers in coverage and bad faith disputes involving general liability, property, professional liability, directors' and officers' liability, and surety.

Much of this expertise was gained when the Firm was appointed as Special Counsel to the New Jersey Department of Banking & Insurance in connection with the liquidation of Integrity Insurance Company from 1987 to 2005. Mr. Novak worked on the Integrity matter since 1987 and was the Lead Partner from 1993 to 2006. In the course of this representation, Mr. Novak became deeply involved in cutting edge issues of insurance law including trigger of coverage, attachment and allocation of mass tort losses among excess and umbrella policies, estimation of unpaid losses including incurred but not reported losses, and insurer insolvency/guaranty association law. He also became increasingly involved in representing insurers and reinsurers in reinsurance disputes.

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Representative Matters

  • Represented the Liquidator of Integrity Insurance Company in the recovery of $65 million of reinsurance on asbestos, environmental and toxic tort liabilities.
  • Represented the Liquidator of Integrity in the recovery of reinsurance on losses from the implantation of the Bjorn-Shirley heart valve.
  • Represented a national surety company in the recovery of $3.5 million of construction losses from a reinsurer.
  • Assisted the Liquidator of Integrity Insurance Company in negotiating reinsurance commutations totaling in excess of $100 million from treaty and facultative reinsurers.
  • Represented the largest non-profit hospital system in New York in the recovery of losses covered by its errors and omissions carrier.
  • Represented the largest non-profit hospital system in New Jersey in the recovery of losses covered by its errors and omissions carrier.
  • Represented the national managing general agent of an insurance company in a $20 million contingent commission dispute with the carrier.
  • Represented a major asbestos manufacturer in the recovery of $55 million of asbestos bodily injury losses from 54 insurance guaranty associations.
  • Represented numerous policyholders in pursuing business interruption claims resulting from natural disasters such as fires, floods, hurricanes and other catastrophes.
  • Represented attorneys, accountants, architects and engineers in securing coverage for losses under professional liability policies.
  • Represented various Fortune 1000 insureds in obtaining coverage under Director and Officer liability policies for suits alleging mismanagement, financial misrepresentation and unfair competition, and counseling clients on the adequacy of their D&O coverage.
  • Represented a chain of radio stations in seeking coverage for defamation claims under broadcasters liability policies.
  • Represented various policyholders in seeking coverage under CGL policies for business torts such as unfair competition, copyright infringement, conversion of trade secrets and tortious interference.
  • Represented major corporations and banking institutions in the prosecution of fidelity claims against carriers who insured against the dishonest acts of the policyholders’ employees.
  • Worked with independent consulting actuaries in the preparation of the Liquidator’s Final Dividend Plan which allowed contingent environmental and mass tort claims based on actuarial projections of the policyholders’ liability.

Court Admissions

U.S. District Court, District of New Jersey, 1980
U.S. District Court, Southern District of New York, 2006
U.S. District Court, Northern District of New York, 1993
U.S. Court of Appeals, Seventh Circuit, 1983
U.S. Court of Appeals, Third Circuit, 1988
U.S. Court of Appeals, Second Circuit, 1994

Representative Decisions

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Newsroom

Presentations

Publications

Rankings & Recognition

New Jersey Super Lawyers®* 2008-2009, Business Litigation, Insurance Coverage and Construction Litigation
Martindale-Hubbell®* AV rating

* See Award Methodology

Affiliations

Member, Insurance Committee and Fidelity and Surety Committee, New Jersey State Bar Association
Member, Insurance Coverage Litigation Committee, Tort Trial and Insurance Practice Section, American Bar Association
Member, Excess and Surplus Lines Committee, Tort Trial and Insurance Practice Section, American Bar Association