Biography

Eugene V. Elsbree III specializes in representing domestic and international insurers in connection with professional liability, fidelity bond and financial institution, and directors’ and officers’ liability claims. His professional liability practice focuses on claims against lawyers, architects and engineers, insurance companies, agents, and brokers, accountants, actuaries, and other professionals.

Mr. Elsbree also represents insurers which write financial institution bonds and commercial crime and professional liability policies for national, international, and community banks, securities broker/dealers, hedge funds, mortgage brokers and banks, title insurers, and credit reporting and rating agencies.

In addition, he serves as counsel to directors’ and officers’ insurers in securities class action, derivative, fiduciary liability, and employment practices liability claims against financial institution, commercial, and non-profit insureds.

Mr. Elsbree advises insurers on policy drafting and wording issues, and assists in the creation of specialized manuscript policies, including blended wordings for insurance companies, major insurance brokers, and U.S. and European banks. He also assists clients with new product development, creating programs for discontinued operations, broker/dealers, and other professionals.

Representative matters include:

• E&O, D&O, fiduciary, and fidelity bond claims arising out of the failure of Washington Mutual Inc.
• E&O claims against major broker/dealers due to the collapse of a multi-billion dollar mutual fund and money market funds which “broke the buck.”
• Claims against AmLaw 100 law firms arising out the creation and sale of tax shelters. 
• Legal malpractice claims implicating conflicts of interest and violation of ethical rules in real estate and financial transactions.
• Claims of deepening insolvency brought by bankruptcy trustees against an Illinois-based accounting firm and against law firms in Texas and California.
• Fidelity bond and D&O claims involving BCCI and Holocaust-related litigation against European banks, and E&O claims against offshore hedge funds.

Membership and Honors

Mr. Elsbree is a member of the Professional Liability Underwriting Society (PLUS).

While in law school, Mr. Elsbree was a member of the Hastings Law Journal.