Scott Schaffer has practiced in the insurance coverage area throughout his legal career, with a current focus on claims under directors and officers liability, professional liability and employment liability policies. As a founding member of the firm’s Insurance-Reinsurance Coverage practice, Scott is a coordinator of the national Directors & Officers and Employment teams.
On behalf of insurance carriers, Scott provides counseling and opinions in coverage matters arising from business disputes and corporate insurance defense, with a concentration on directors and officers (D&O), lawyers (LPL) and other professionals’ errors and omissions (E&O), employment practices (EPL) and cyber liability programs. He serves as national counsel and claims coordinator for D&O, LPL, E&O and EPL programs originated in the United States, Bermuda and London, including programs targeting lawyers, financial institutions, non-profit organizations, franchise businesses, and small to mid-sized “hard to place” for-profit corporations. In his role as national program counsel, Scott is responsible for drafting policies and endorsements, preparing claims bordereaux, and providing guidance to underwriters on various issues. He is a frequent speaker at seminars in the United States, Canada, Bermuda and Europe, and has written numerous articles on D&O, LPL, E&O and EPL liability. For the past fifteen years, the New York City Bar Association has published annual editions of Scott’s “Directors and Officers Liability/Insurance Handbook.”
Scott’s client service approach emphasizes a high level of professionalism and responsiveness to client needs, with a focus on cost-effective management and resolution of claims through the balanced use of internal and external resources. Scott is particularly adept at advocating his clients’ positions at mediations and settlement conferences, hundreds of which he has attended all across the United States over the years. Throughout his career, Scott has represented insurers in numerous civil claims arising from financial crimes such as bribery, embezzlement, money laundering and foreign corruption. Presently, Scott is heavily involved in the representation of insurers, along various product lines, with continuing exposures to the sub-prime mortgage crisis.
Areas of Focus
Directors and Officers Liability, and Professional Liability
Scott represents D&O insurers in financial institution claims, shareholder derivative actions and class action securities litigation. He also has extensive experience with matters arising under E&O policies covering attorneys, accountants, broker-dealers, investment advisors, underwriters and other types of professionals.
Employment Liability
Scott’s coverage practice includes the representation of EPL insurers in matters involving all types of discrimination and harassment, retaliation and wrongful termination claims.
Cyber Liability
Scott’s wide-ranging experience with insurance coverage issues includes work on cyber liability matters, an emerging and increasingly important aspect of the liability insurance industry in the United States. When cyber liability claims do develop, Scott can work with insurers and policyholders to advance their common interest in containing and limiting cyber-related financial losses.