Peter M. Gillon

Peter’s clients appreciate his “wealth of knowledge and encyclopedic understanding of insurance,” describing him as a “very creative coverage lawyer who brings a fresh perspective to problems” and “experienced, forceful when needed, [with] a good reputation for getting results (Chambers USA).”

Peter applies a creative problem-solving approach to his work as one of the leading coverage attorneys in the area of D&O insurance. Public and private companies and their boards regularly call on him to help resolve complex securities and other class actions, derivative lawsuits, appraisal actions, M&A-related litigation and enforcement actions, by bringing insurers to the table and marshaling D&O and other insurance assets to fund those liabilities. He uses all available resources and tools, including litigation, where necessary. His clients range from Activision/Microsoft and Archer-Daniels Midland, to Purple, Zayo, and dozens of other companies and institutions. Peter is also a leader in emerging areas of insurance coverage, including collateral protection insurance, portfolio risk transfer and enterprise risk management.

He is not afraid to take on new approaches for insurance recovery. In August 2019, a Delaware court adopted the theory advanced by Peter in Solera Holdings v. XL Insurance that D&O insurance policies afford coverage for an appraisal action brought by dissenting shareholders challenging the price paid to acquire Solera in a go-private transaction. This precedent-setting decision, later reversed by the Delaware Supreme Court, explained that coverage for “securities violations” included claims that the company failed to meet its obligation to obtain “fair value” for its shares. Peter is actively pursuing other litigation seeking to narrow the scope of the so-called “bump-up” exclusion and “relation-back” provisions.

With experience representing the companies most impacted by some of the largest disasters in recent memory, such as the 9/11 terror attacks, the Deepwater Horizon oil spill and Superstorm Sandy, Peter is widely regarded as a trusted business advisor for companies in their most important and challenging matters.

Peter focuses his practice on:

• Insurance coverage disputes involving all major lines, including executive liability (D&O, fiduciary, fidelity and crime, EPLI), first-party (including property and business interruption losses), cyber, product recall and pollution liability.
• Insurance policy placement, including D&O, cyber, property, pollution legal liability, environmental liability transfer, IPOs, rep and warranty and IP insurance.
• Advice on risk management and insurance issues in corporate and real estate transactions and bankruptcy, including insurance due diligence.

• Representing a chemical company in an insurance recovery action pending in Luxembourg, precipitated by one of the largest PFAS-related settlements to date in the United States.
• Representing CareDX seeking D&O coverage for investigations by the SEC and other government agencies into the company’s organ transplant testing services.
• Advising a global agricultural commodities company on various insurance matters.
• Representing several hedge funds and financial institutions on a matter related to their placement and recovery under IP and other collateral protection insurance policies, judgment protection policies, and other insurance arrangements.
• Represented CoCrystal Pharma in litigation seeking D&O coverage for shareholder lawsuits and SEC investigation into an alleged pump-and-dump scheme and go-private transaction and obtained a Third Circuit reversal of prior summary judgment against CoCrystal, favorably settling on the eve of the trial.
• Represented Uber Technologies in cyberinsurance coverage dispute arising from the hacking of 57 million accounts.
• Represented scores of companies and their directors in disputed D&O claims, including Activision/Microsoft, Albermarle Corp., Ascension Health, Amtrust Financial, Atlas Holdings, Boston Scientific, Centerbridge Partners, Duke Energy, Fitbit, HC2 Holdings, Mullen Automotive, Opko Health, Ormat Holdings, Panera Breads, Purple Innovation, Sinclair Broadcasting, Six Flags Entertainment and Zynga.
• Serve as party-appointed arbitrator in dispute under D&O policies purchased by Immunomedics.
• Won a jury award of $72 million against AIG and other insurers for loss of income and expenses incurred by Delek/Lion Oil due to the rupture and closure of a crude oil pipeline supplying the Lion Oil refinery.
• Obtained insurance coverage for Mitsui, for hundreds of millions in liabilities incurred as minority-owner of the Macondo well, whose blowout resulted in the Deepwater Horizon incident.
• Represent CalPERS on property policies for $150 million in losses at Wilshire Vermont Station mixed-use development in Los Angeles due to damages caused by construction defects. 
• Represented the Hanover Group on claims under fiduciary policies for “whipsaw” claims for alleged violations of ERISA.
• Represented Laureate Education in disputed claim under crime policy for employee theft at Laureate-owned Bilgi University in Istanbul, Türkiye. Advised Invest Industrial on purchase of Jacuzzi Inc. after Tijuana factory was destroyed by fire during due diligence period.
• Advised Yeti, Inc. on placement of coverage for IPO.
• Prevailed in Solera Holdings v. XL Insurance; argued appeal in Delaware Supreme Court
• Represented Duke Energy in coverage claims arising from the 2014 Dan River coal ash spill.
• Represented major property owners and various businesses, from phone companies to casinos, in first-party insurance coverage disputes arising from Superstorm Sandy.
• Represented United Air Lines on business interruption claims arising from the 2011 Japan earthquake/tsunami.
• Represented an energy company in coverage claim for mass tort action for manufacture and sale of MTBE.
• Represented an energy company in a first-of-its-kind workout and restructuring of $2 billion of directors and officers and fiduciary insurance.
• Represented United Airlines for property damage and business interruption losses related to September 11, 2001.
• Represented United Airlines in complex global insurance recovery effort involving litigation and settlement of environmentally related liability at airport and non-airport sites across the country, and structuring policy buyback in chapter 11 proceeding under §363 of the Bankruptcy Code.

• Who’s Who Legal, Insurance & Reinsurance (2017)
• The Legal 500 U.S., Insurance: Advice to Policyholders (2017 – 2019)
• 10 Most Admired Insurance Attorneys, Insurance, Law360 (2010)
• Associations
  • Vice Chair and Fellow, American College of Coverage and Extracontractual Counsel
• Speaking Engagements
  • “Food for Thought: Managing Risk in the Changing World of Agriculture,” RIMS 2017, April 23 – 26, Philadelphia, Penn. Speaker and moderator.