KBR represents the interests of domestic and international insurers in connection with claims made against their insureds (including pension plans, plan fiduciaries and third-party administrators) for alleged violations of the Employee Retirement Income Security Act of 1974. We have extensive experience with various types of these complex claims, including “tag-along” or “stock drop” actions, which accompany securities fraud class actions and allege breach of fiduciary duty; suits alleging ERISA violations in connection with the conversion of traditional defined benefit pension plans to “cash balance” plans; and actions based on alleged “excessive fees.” We assist our clients on all claim handling issues, including investigation of the claims, evaluation of potential exposure, formulation of and advocacy of coverage position, supervision and coordination of defense efforts and the negotiation of settlements and coverage issue resolution. In addition, we work closely with underwriters in all aspects of coverage, including policy drafting.
If coverage disputes between our clients and the insureds arise, we try to resolve such issues informally. Sometimes, however, litigation becomes unavoidable, and our coverage litigation team draws on its vast experience to zealously, creatively and cost-effectively protect our clients’ interests. In addition, our Appellate Practice Team stands ready to pursue the matter on the appellate level if necessary.
KBR also serves as defense counsel to pension plans and fiduciaries in connection with claims brought by plan participants and beneficiaries alleging, among other things, breach of fiduciary duties in violation of ERISA. We handle all aspects of such claims, from investigation, motion practice and discovery through trial and settlement.
KBR’s fiduciary liability attorneys often lecture and write about fiduciary liability issues, including frequent updates to clients on important developments and trends in fiduciary liability and related fields.