Profile: Clifford H Schoenberg

Insurance and Reinsurance

Biography: Insurance & Reinsurance

Clifford H Schoenberg is a litigation partner in Cadwalader's New York office. He has handled scores of large and complex reinsurance arbitrations and litigations, and a wide variety of disputes between insurance companies and their agents. He had principal responsibility for and was lead trial counsel in both the arbitration against Fortress Re in which Sompo Japan obtained a US$1 billion compensatory damage award and a US$100 million punitive damage award, and the litigation against Fortress Re's auditors for fraud and malpractice.

Mr Schoenberg also leads a team of Cadwalader attorneys in both company and individual representations relating to governmental investigations of the insurance industry focusing on finite reinsurance.

He currently represents reinsurers, banks, investment banks, hedge funds and private equity funds when these clients face issues connected with risk transfer and reinsurance. This includes advising, negotiating and structuring complex reinsurance transactions, alternative risk transfer and hybrid insurance/capital markets products, including life, annuity and property catastrophe transactions, side cars, and industry loss warranties; and advising on regulatory matters, including life settlements, premium finance and other insurance/capital markets products.

He has significant experience relating to rehabilitation and liquidation of insurance companies. He has litigated direct insurance coverage actions, been retained as an arbitrator and expert in reinsurance arbitrations, and represented insurance companies in regulatory matters before the New York State Insurance Department.

Also, Mr Schoenberg has acted as coordinating and supervising counsel for federal and state class action lawsuits against insurers, including a large number of actions in the state of Alabama involving significant punitive damage claims.

In addition to his extensive litigation and regulatory experience, Mr Schoenberg has served as lead counsel on various significant insurance company mergers, acquisitions and divestitures.

He also served on the board of directors of Zurich Kemper Life Insurance Company of New York and was formerly assistant general counsel of The Home Insurance Company.

Mr Schoenberg is listed in Euromoney's Guide to the World's Leading Insurance and Reinsurance Lawyers, Chambers USA - America's Leading Lawyers, The International Who's Who of Insurance and Reinsurance Lawyers, New York Super Lawyers - Manhattan edition, The Best Lawyers in America, and also in New York Magazine's Best Lawyers edition.

Mr Schoenberg has written numerous articles and lectured extensively on reinsurance topics. Prior to joining Cadwalader, Mr Schoenberg was a partner at Rosenman & Colin LLP, and at Miller Singer Raives & Brandes PC.

Mr Schoenberg received a BA, summa cum laude, from Dickinson College in 1972, and his JD, magna cum laude, from Boston University School of Law in 1975.