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Stephen W. Schwab  


Partner

stephen.schwab@dlapiper.com

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203 North LaSalle Street, Suite 1900
Chicago, Illinois 60601-1293
United States
T: +1 312 368 2150   F: +1 312 630 7343

Stephen W. Schwab concentrates his practice in the areas of insurance and reinsurance regulation, transactions, dispute resolution, and receiverships. Mr. Schwab represents, serves and advises senior management of domestic and multinational stock, mutual and captive insurers and reinsurers, intermediaries, trade organizations, regulators, receivers (in 12 states) and receivership creditors in high profile disputes, innovative transactions, troublesome regulatory matters, strategic planning, reorganizations and restructuring, and receivership proceedings, and provides in-house training.

Mr. Schwab's experience includes the development and presentation of complicated reinsurance claims and the organization, prosecution, and defense of complex reinsurance disputes in informal negotiation, formal mediation, arbitration proceedings, and court litigation throughout the world, from trial through appeal. He has published numerous book chapters and articles, and has chaired or spoken at many conferences and seminars.

Based on peer and client reviews, Chambers USA: America's Leading Lawyers for Business cites Mr. Schwab as one of America's leading insurance and reinsurance lawyers and in every year since 2001 has ranked him highly in Illinois in two areas of law, reinsurance litigation and insurance: transactional and regulatory (first tier). Chambers has commented on the "glowing market praise" he receives for his "experience and industry knowledge" and noted that sources describe him as "one of the best people around" and peers describe him as "a world-renowned reinsurance arbitrator."

In 2010, Mr. Schwab received the ILO Client Choice Award in the insurance and reinsurance division for the US; he was the sole winner of this honor. In 2007, Lawdragon named him among the 500 Leading Lawyers in America. Mr. Schwab also is listed by Best Lawyers in America, 2006-2011; The International Who's Who of Business Lawyers - Insurance and Reinsurance, 2003-2008; Euromoney's Guide to the World's Leading Insurance & Reinsurance Lawyers, 2000-2008; The Leading Lawyers Network 2005-2009 (in the commercial litigators category); and In Brief (London). He has been listed in Best of the Best USA as one of the top 25 insurance practitioners in the US in 2007, 2008 and 2009. Mr. Schwab has been named an Illinois Super Lawyer in every year since 2005.

Mr. Schwab was the co-coordinator of DLA Piper's Global Insurance Practice Steering Committee from 2005 to 2010.

Admissions

  • District of Columbia
  • Illinois
  • New York
  • Supreme Court of the United States
  • United States Court of Appeals for the Seventh Circuit
  • United States Court of Appeals for the Ninth Circuit
  • United States Tax Court
  • United States Court of Claims
  • United States District Court for the Northern District of Illinois (including the Trial Bar)
  • Supreme Court of Illinois

Memberships

  • International Bar Association
  • American Bar Association, Chair, Excess Surplus Lines and Reinsurance Committee (2006-2007), Tort Trial and Insurance Practice Section
  • Chicago Bar Association
  • ARIAS, US
  • Charter Associate Member, International Association of Insurance Receivers
  • Defense Research Institute

Publications

  • Setoffs in Insurance Receiverships: Two Decades of Change, 18 J. of Reins. 81 (2011)
  • Service of Process, Annotations to Surplus Lines Statutes, Fifth Ed. (American Bar Association, 2010)
  • Pension Committee and the Increasing Burdens and Uncertainties of E-Discovery, DLA Piper Litigation Alert (February 2010)
  • The Credit Crisis and Its Effect on Insurance Companies: An Overview (Lockton, Inc. Circular, October 2008)
  • Berrable Alternatives for Reinsurance Arbitration Part Three: International Dimensions, A.B.A. Excess, Surplus Lines and Reinsurance Committee Newsletter (Winter 2007)
  • Whatever happened to the concept of 'utmost good faith'?, Reinsurance at 38 (February 2006)
  • Berrable Alternatives for Reinsurance Arbitration Part Two: Pre Hearing Rules of the Game, A.B.A. Excess, Surplus Lines and Reinsurance Committee Newsletter (Winter 2006)
  • Berrable Alternatives for Reinsurance Arbitration Part One: Panel Selection, A.B.A. Excess, Surplus Lines and Reinsurance Committee Newsletter (Summer 2005)
  • Annotations to Surplus Lines Statutes (4th ed. 2005)
  • Contract, Regulatory and Coverage Issues of Global Import in International Reinsurance Review (Euromoney 2005)
  • US Primary Risk, Broker and Reinsurance Regulatory Issues in 2004 in The Euromoney Global Insurance Handbook (2005)
  • Recent Developments in Excess, Surplus Lines, and Reinsurance Law, 39 Tort Trial & Ins. Prac. L.J. 375 (2004)
  • Recent Developments in Excess, Surplus Lines, and Reinsurance Law, 38 Tort Trial & Ins. Prac. L.J. 335 (2003)
  • Uninsured and Underinsured Motorists Coverage Remains Risky Business for Primary and Excess Carriers (September 2001)
  • The Best Laid Year 2000 Plans: Planning and Preparation for the New Millennium, Gen. Reins. Year 2000 (August 1999)
  • Y2K: A Reinsurance Perspective, 9 Mealey's Litig. Rep., Reins. No. 15, 17-37 (1998), reprinted in Y2K Counselor, April 1999, at 5
  • Beware Common Account Reinsurance, 8 Mealey's Litig. Rep., Ins. Insol. No. 9 (1997)
  • Reinsurer Liability for Contingent Claims - Recent Update (Part II), [1997] Int'l J. of Ins. Law 175
  • Reinsurer Liability for Contingent Claims (Part I), [1997] Int'l J. of Ins. Law 28
  • Insurer Receiverships in INT'L INS. LAW & REG. (D. Campbell ed.)
  • Banks Selling Annuities May Cause a Turf Battle, NAT'L L. J., May 22, 1995, at 17
  • Caught Between Rocks and Hard Places: The Plight of Reinsurance Intermediaries Under US and English Law, 16 Mich. J. Int'l L. 485 (1995), reprinted in 8 Nat'l Ins. L.Rev. 79 (1996)
  • Should Receivers Sell, or Just Collect, Insurer Shells?, 6 Mealey's Litig. Rep., Ins. Insolv. No. 14 (1994)
  • Insurance Company Receiverships: What Does the Future Hold?, A.B.A. National Institute, SEC. BUS. LAW, Solvency Concerns with Foreign Insurers and Reinsurers/Recent Developments/US Reform Efforts (1994)
  • Contingent Claims: Has Their Time Finally Come?, III Soc. of Ins. Rec. News. No. 3, p. 9 (1994)
  • Supreme Court Decides Superpriority Case, II Soc. of Ins. Rec. News. No. 3, p. 3 (1993)
  • US Dept. of Treasury v. Fabe, 3 Ins. L. & Prac. 112 (1993)
  • Editor and Contributing Author, Data Processing, Investigation and Asset Recovery, Claims, and Special Receiverships Chapters, National Association of Insurance Commissioners RECEIVER'S HANDBOOK FOR INSURANCE COMPANY INSOLVENCIES (1st and 2d eds. and Supp.)
  • An Overview of United States Reinsurance Regulation and Proposals for Reform (unpublished 1992)
  • Cross-Border Insurance Insolvency: The Search for a Forum Concursus, 12 U. Pa. J. Int. Bus. Law 303 (1991), reprinted in Ins. Law & Practice (2 parts) (1992)
  • Onset of an Offset Revolution: The Application of Set-Offs in Insurance Insolvencies, 95 Dick. L. Rev. 448 (1991), 8 J. Ins. Reg. 446 (1990), reprinted in 5 Nat'l Ins. L. Rev. 813 (1992) and VI INSURANCE LAW ANTHOLOGY 107 (1992)
  • Unigard Security Ins. Co., Inc. v. North River Ins. Co., 1 Ins. L. & Practice 97 (1991)
  • Searching for a Forum Concursus, 2 and 3 Europe 1992 Law & Strategy No. 3 (Mar. and Apr. 1991)
  • Valuation of Contingent Claims and the Application of Set-offs in Reinsurance Insolvencies (5 part article), Ins. Law & Practice (Parts I-III) (1991) (Parts IV, V) (1992)
  • Amreco: A Step Towards International Rehabilitations, 7 J. Ins. Reg. 388 (1989)
  • Retaliatory Discharge: Insurable or Not?, 14 YLS Journal No. 4 (1985)
  • Contributing Author, Receivership Matters (periodic firm insurer receivership newsletter)
  • Contributing Author, Employment Alert (periodic firm labor and employment law newsletter)

Seminars

  • Speaker, "Legal and Regulatory Issues in Insurance Company Runoff," 2011 National Conference of Insurance Guaranty Funds Legal Seminar (June 2011) 
  • Moderator, "Antitrust Law Compliance Update" (April 2011)
  • Moderator, "Economics and Business Implications of a Changing Global Environment," HB Litigation Conferences' 18th Annual Insurance Insolvency & Reinsurance Roundtable (March-April 2011)
  • Moderator, "Oil in the Gulf: Top Concerns for Insurers and Reinsurers," HB Litigation Conferences' 18th Annual Insurance Insolvency & Reinsurance Roundtable (March-April 2011)
  • Co-Chair, "18th Annual Insurance Insolvency & Reinsurance Roundtable," HB Litigation Conferences (March-April 2011)
  • Speaker, "Dodd-Frank Reforms Applicable to Insurers and the Status of Ongoing Rulemaking," American Conference Institute's 7th Annual Conference on Complying with the Evolving Framework of Modernized Insurance Regulation (February-March 2011)
  • Co-Chair, "American Conference Institute’s 7th Annual Conference on Complying with the Evolving Framework of Modernized Insurance Regulation," (February-March 2011)
  • Speaker, "Collecting Non‑US Reinsurance: Promising Legal Developments," Technical Development Series: Asset Management and Recovery, International Association of Insurance Receivers (November 2010)
  • Speaker, "Recent Developments in Canada's Regulation of Cross-Border Insurance and Reinsurance," HB Litigation Conferences' OFAC and Regulation of International Business: Important Considerations for Insurance and Reinsurance (September 2010)
  • Speaker, "Wisconsin Environmental and Pollution Coverage: Swamps and Bogs" (September 2010)
  • Speaker, "Funding Retiree Medical Benefits through a VEBA and a Captive Insurer" (May 2010)
  • Moderator, "Antitrust Law Compliance Update" (May 2010)
  • Moderator, "The Regulatory Horizon: Bracing for Changes in the Global Reinsurance Market and How to Adapt Your Agreements in Response," American Conference Institute's 6th Annual Advanced Forum on Reinsurance Agreements (April 2010)
  • Speaker, "Enforcing the Promise, State Law and Deadlines, and Compelling Insurer Attendance in Court" (April 2010)
  • Moderator, "Insurance Contract Performance: Ethics and Practical Considerations in Defending Third Party Claims" (April 2010)
  • Speaker, "Legal Update 2010: Recent Court Decisions of Note – and a Few Cases to Watch," at the International Association of Insurance Receivers' 2010 Insolvency Conference (April 2010)
  • Speaker, "Spring Training 2010 - Utmost Good Faith and Discovery of Reinsurance" (April 2010)
  • Speaker, "Reinsurance Regulation 2010: Around the World in 60 Minutes," Brokers & Reinsurance Markets Association's Committee Rendezvous (April 2010)
  • Moderator, "Utmost Good Faith: The Guiding Principle of Reinsurance," HB Litigation Conferences' 17th Annual Insurance Insolvency & Reinsurance Roundtable (March 2010)
  • Moderator, "Preparing for NAIC Collateral Reforms and Other Key Reinsurance Regulatory Initiatives," American Conference Institute's 6th National Advanced Forum on Insurance Regulation on Achieving and Maintaining Regulatory Compliance Under Changing State and Federal Regimes (February 2010)
  • Co-Chair, "American Conference Institute's 6th National Advanced Forum on Insurance Regulation on Achieving and Maintaining Regulatory Compliance Under Changing State and Federal Regimes" (February 2010)
  • Speaker, "Are Financial Products to Blame? Financial Insurance Products, Credit Default Swaps, Financial Guarantees and Other Derivatives: Views from an Insurance Angle," 2009 Annual Conference of the International Bar Association (October 2009)
  • Moderator, "Run-Off: The New Business Reality," American Bar Association's Insurer Receivership Program (June 2009)
  • Moderator, "Rehabilitation: Is It Just Liquidation in Disguise?" American Bar Association's Insurer Receivership Program (June 2009)
  • Co-Chair, "Insurer Receivership & Run Off: The Next Level," American Bar Association (June 2009)
  • Speaker, "An Update on The Hague Convention on Choice of Court Agreements," Reinsurance Association of America Law Committee Annual Claims and Law Forum (May 2009)
  • Speaker, "Scenes from a Hearing Room," ARIAS 2009 Spring Conference (May 2009)
  • Speaker, "Negotiating Reinsurance Agreements to Achieve Contract Certainty in the Wake of New Regulatory Developments," American Conference Institute's 5th Annual Advanced Forum on Reinsurance Agreements (April 2009)
  • Moderator, "Achieving Regulatory Modernization Through Mutual Recognition," HB Litigation Conferences' 16th Annual Insurance Insolvency & Reinsurance Roundtable (April 2009)
  • Speaker, "An Update on The Hague Convention on Choice of Courts Agreements," Association of Bermuda Insurers and Reinsurers (April 2009)
  • Speaker, "Global Regulatory Compliance," Brokers & Reinsurance Markets Association's Committee Rendezvous (March 2009)
  • Speaker, "Reinsurance Regulation: An Update," Brokers & Reinsurance Markets Association's Committee Rendezvous (March 2009)
  • Moderator, "Prepare Your Compliance Programs for Reinsurance Reforms: NAIC Collateral Reforms, Emerging Regulations in the United States, and Beyond," American Conference Institute’s 5th Annual Conference on Complying with the Evolving Framework of Insurance Regulation: Streamlining Compliance under State Regimes and Preparing for Upcoming Federal Changes (February 2009)
  • Moderator, "Developing Cost-Effective, Streamlined Compliance Procedures that Incorporate Jurisdictional Differences," American Conference Institute’s 5th Annual Conference on Complying with the Evolving Framework of Insurance Regulation: Streamlining Compliance under State Regimes and Preparing for Upcoming Federal Changes (February 2009)
  • Speaker, “US Reinsurance Regulation: The Latest Developments" (October 2008)
  • Speaker, "Long-Tail and Large-Scale Claims: The Latest Regulatory and Case Law Developments," American Conference Institute's Forum on Reinsurance Claims & Arbitration (September 2008)
  • Moderator, "Building A Better ADR Clause: An Inter-disciplinary Approach, Panel III: Ensuring and Enforcing Ethics in Arbitration," American Bar Association 2008 Annual Meeting (August 2008)
  • Speaker, "Managing Global Insurance Risk" (July 2008)
  • Co-Chair, "First Advanced Forum on Reinsurance Regulation," American Conference Institute (June 2008)
  • Speaker, "Collateral Reform: Adapting to Evolving US Regulations," First Advanced Forum on Reinsurance Regulation, American Conference Institute (June 2008)
  • Speaker, "Collateral Requirements: New Provisions to Address Evolving Regulatory Regimes," American Conference Institute's Fourth National Forum on Reinsurance Agreements (April 2008)
  • Moderator, "Managing Global Regulatory Risk," Mealey's 15th Annual Insurance Insolvency & Reinsurance Roundtable (April 2008)
  • Speaker, “Reinsurance Regulation and Arbitration in the US: A "Collateral" Issue," BRMA's Committee Rendezvous (March 2008)
  • Co-Chair, "4th National Advanced Forum on Regulatory Compliance of the Insurance Industry," American Conference Institute (January 2008)
  • Moderator, "Enforcement Priorities: The Regulators Speak," 4th National Advanced Forum on Regulatory Compliance of the Insurance Industry, American Conference Institute (January 2008)
  • Speaker, "Reinsurance Credit & Security in the US: A 'Collateral' Issue" (January 2008)
  • Speaker, "Global D&O Issues" (January 2008)
  • Speaker, "(Re)insurance Trends in the United States" (October 2007)
  • Speaker, "Reinsurance Allocation, Aggregation and Following The Leader" (September 2007)
  • Speaker, "Reinsurance Allocation, Aggregation and Following The Leader" (August 2007)
  • Speaker, "The Hague Convention on Choice of Court Agreements," Association of Bermuda Insurers and Reinsurers (July 2007)
  • Speaker, "Reinsurance Regulation and Arbitration in the US: A 'Collateral' Issue" (June 2007)
  • Speaker, "Experts - When they're called and the Preparation of their Evidence," Australian Bar Association Conference (June 2007)
  • Panelist, "Mealey's Teleconference: Emerging Issues in Reinsurance Arbitration," Mealey's (June 2007)
  • Moderator, "Doing Business with International Financial Institutions," World Trade Center Illinois (May 2007)
  • Panelist, "Exploring global issues in placing Directors' and Officers' Liability Insurance" (April 2007)
  • Moderator, "Who Will Regulate Insurance Collateral: State v. Federal Government," Forum on Reinsurance Collateral: Adapting Insurance and Reinsurance Best Practices to New Regulatory Realities, American Conference Institute (April 2007)
  • Moderator, "Analysis of the New Collateral System," Forum on Reinsurance Collateral: Adapting Insurance and Reinsurance Best Practices to New Regulatory Realities, American Conference Institute (April 2007)
  • Co-Chair, "Forum on Reinsurance Collateral: Adapting Insurance and Reinsurance Best Practices to New Regulatory Realities," American Conference Institute (April 2007)
  • Speaker, Reinsurance Boot Camp (March 2007)
  • Speaker, "Extra-Jurisdictional Impact of Laws & Regulation for Greater Transparency and Accountability," 7th Asian CEO Insurance Summit, Singapore (March 2007)
  • Speaker, "Reinsurance Arbitration: Strategies for Minimizing Cost and Maximizing Success," Life Insurance: The Legal & Strategic Guide, American Conference Institute (January 2007)
  • Speaker, "Collateral Requirements for Foreign Insurers in the United States," 3rd Annual Legal & Compliance Executives' Forum on Insurance Regulation, American Conference Institute (January 2007)
  • Speaker, "E-Discovery & the New Federal Rules: What Reinsurers Need to Know and Do Now," Reinsurance Association of America (December 2006)
  • Speaker, "Insurers and Reinsurers in Run-Off: What's a Broker to Do?" (November 2006)
  • Moderator, "Mealey's Teleconference: The Threat of Avian Flu: Insurance & Reinsurance Implications (UK)," Mealey's (November 2 and 21, 2006)
  • Speaker, "Before You Arbitrate: Drafting and Analyzing Arbitration Clauses," American Conference Institute (September 2006)
  • Panelist, "Schemes of Arrangement - Rewriting the Rules of the Risk Business," 2006 Conference of the International Bar Association (September 2006)
  • Program Chairman, "Covering Your Risks: Cutting-Edge Strategies and Potential Liabilities for Captive Insurers," American Bar Association Annual Meeting (August 2006)
  • Speaker, "Following The Leader on Facultative Certificates: Liability, Forms, Settlements, and Fortunes," Reinsurance Education and Communication Hotline (August 2006)
  • Speaker, "Fire Following A Terrorist Attack: Considerations for Underwriters and Claims Specialists Under US and UK Law" (June 2006)
  • Speaker, "Recent Regulatory Developments in the US: International Challenges and Opportunities" (May 2006)
  • Panelist, "New Partners in Private International Law: Developing New Norms for Global Business Transactions," American Bar Association Section of International Law Spring Meeting (April 2006)
  • Panelist, "Reinsurance Agreements Conference, Dispute Resolution: Maximizing Success and Minimizing Cost," American Conference Institute (Feb. 2006)
  • Speaker, "Effective Dispute Management with Insurer Receivers in the United States," Mealey's (November 2005)
  • Speaker, "The Hague Convention on Choice of Court Agreements," CIDRA (October 2005)
  • Panelist, "How to Improve the US Arbitration System, Third National Forum, Reinsurance Arbitrations: Strategies for Successful Dispute Resolution," American Conference Institute (Sept. 2005)
  • Moderator, "Effective Solutions to Common Insurance-Related Transactional Issues, Panel II," American Bar Association Annual Meeting (August 2005)
  • Panelist, "International Contract Issues: UK and US Perspectives," Reinsurance Association of America (July 2005)
  • Speaker, "International Regulatory Issues: Mutuality of Judgment Recognition and Enforcement," Reinsurance Association of America (May 2005)
  • Panelist, "Arbitration Clauses & Considerations," American Conference Institute (May 2005)
  • Moderator, "Down the Slippery Slope: How to Deal with Capital Strain," Mealey's (April 2005)
  • Speaker, "Arbitration in Receiverships: An Introduction to the Process," International Association of Insurance Receivers (March 2005)
  • Speaker, "US: Déjà vu all over again," 2004 Conference of the International Bar Association (October 2004)
  • Speaker, "Insurance & The Law - Some International Perspectives," International Bar Association, Insurance Council of Australia Limited, Australian Insurance Law Association, and Australia and New Zealand Institute of Insurance and Finance Joint Conference (October 2004)

Civic and Charitable

  • Observer on behalf of the International Bar Association to the Uniform Law Commission, Drafting Committee on the Uniform International Choice of Court Agreements Act (2009-present)
  • International Bar Association delegate to the Hague Conference on Private International Law, Special Commission on Jurisdiction, Recognition and Enforcement of Foreign Judgments in Civil and Commercial Matters (2004-present)
  • Boy Scouts of America, Northeast Illinois Council: Board Member, Legal Counsel to Executive Committee 2011; Jamboree Committee Chairman 2005; Potawatomi District Award of Merit 2003; Wood Badge Award 2003; National Eagle Scout Association, National Scoutmaster Award 2002; Scoutmaster, Troop 5, Wilmette, IL 1999-2003
  • The Evangelical Lutheran Church of the Ascension, Northfield, IL: Chairman, 2011-14 Imagine! Capital Appeal; Member, Human Resources Committee, 2009-present; President, 2009-2011; Congregation Council 2008-2011; Lay Reader 1998-present


EDUCATION

  • Harvard Leadership Program 2008
  • A.Re., Insurance School of Chicago 1995
  • J.D., Dickinson School of Law of the Pennsylvania State University 1982
    Member, Order of Barristers
    Member, Labor Law Moot Court Team
    Chairman, Trial Moot Court Board (1981-1982)
  • B.A., Northwestern University 1979
    Phi Eta Sigma

EDUCATION

  • Harvard Leadership Program 2008
  • A.Re., Insurance School of Chicago 1995
  • J.D., Dickinson School of Law of the Pennsylvania State University 1982
    Member, Order of Barristers
    Member, Labor Law Moot Court Team
    Chairman, Trial Moot Court Board (1981-1982)
  • B.A., Northwestern University 1979
    Phi Eta Sigma

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