When the U.S. housing market began to crash more than five years ago, Reed Smith’s insurance recovery group was in a unique position to tackle the first wave of mortgage insurance litigation.

Although initial claims in the litigation, Bank of America N.A. v. Old Republic Insurance, which involves policies issued to Bank of America to insure home equity loans, were filed in Chicago, additional actions were filed in California, some of the homeowners and policyholders involved in the case lived in Pennsylvania and Reed Smith’s client, Bank of America, is headquartered in North Carolina.

“We were right where the clients were and right where the litigation was filed,” Reed Smith partner Traci S. Rea said. “We were able to leverage the geographic reach, as well as the expertise to put together a team that was really seamless and could serve the clients 24 hours a day.”

Reed Smith’s insurance recovery team consists of 87 attorneys practicing in eight offices across the globe, including locations in Paris, London and Asia. The group focuses exclusively on recovery for policyholders, and attorneys handle cases across a broad range of industries, including property damage, toxic torts, pharmaceuticals, asbestos, bankruptcy, data privacy and financial coverage.

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