People

Michael Chester

Michael B. Chester

Principal
New York
212.820.7752
212.820.7740

Overview

Michael represents the interests of insurance companies in domestic and international disputes concerning insurance coverage for directors and officers of public companies, executives of financial services firms, hedge funds, real estate investment trusts and investment banks. He also counsels insurers on the risks and potential exposures for other professionals and executives, including those facing private litigation and investigations by the Securities and Exchange Commission and U.S. Attorney’s Office.

Michael counsels clients on the impact of securities laws and financial regulations including the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Investment Company Act of 1940, the Investment Advisers Act of 1940 and the Securities Exchange Act of 1934.   He also assists clients with assessing current and future market risk and the underwriting of new insurance products. Additionally, Michael counsels clients on employment issues, and in forming corporate entities, such as limited liability corporations and C corporations.




Honors

  • New York Super Lawyers, 2013-2018
  • New York Super Lawyers, Rising Stars, 2011-2012




Professional Associations

  • Professional Liability Underwriters Society (PLUS), Member.
  • American Bar Association, Tort, Trial and Insurance Practice Section, Professionals' Officers' and Directors' Liability Committee (2016 - 2017), Vice-Chair.

Cases of Interest

  • Represented client's interests in domestic and international jurisdictions in connection with multiple claims for coverage from officers and directors of a bankrupt Bermuda reinsurance company.
  • Defending international client in litigation brought by assignees to certain rights of bankrupt financial company.
  • Represented multiple insurers' interests in connection with the resolution of multiple lawsuits filed in the United States and Hong Kong concerning a private equity venture worth over $2 billion.
  • Recent Developments Affecting Professionals’, Officers’, and Directors’ Liability Insurance, ABA-TIPS Law Journal, April 2, 2018, Co-Author.
  • The Intersection of Bankruptcy and Directors' and Officers' Liability Insurance, Financier Worldwide, Apr. 2016, Author.
  • Three the Hard Way: Why the D&O Insurance Market Continues to HardenRisk Management Magazine, Aug. 1, 2013, Author.
  • D&O Liability Claims Issues in 2011Risk Management Magazine, Dec. 1, 2011, Author. 
  • Chinese Reverse Mergers Pushing Up D&O Liability Prices, Business Insurance Magazine, Aug. 22, 2011, Quoted in the article.
  • Bad news for D&O insurers? Scandal-plagued News Corp. Faces LawsuitsBusiness Insurance Magazine, July 31, 2011, Quoted in the article.

Publications