An experienced lawyer and corporate executive whose strengths include forging resolutions to U.S. and international business disputes, purchasing efficient re-insurance programs, establishing systems to effectively manage claims, litigation and enterprise-wide spend, and drafting insurance and reinsurance contracts. Skilled negotiator and influencer with an in-depth knowledge of the operational and legal issues addressed by insurance and reinsurance companies. Admitted to practice law in the Commonwealth of Massachusetts, United States District Court for the District of Massachusetts, and the United States Circuit Court of Appeals for the First Circuit.
- Dispute Resolution
- Claims and Litigation Management
- Re-Insurance Placements & Contracts
- Risk Management
- Procurement Transformation
- Operational Restructuring
ARBITRATONS AND MEDIATIONS CONDUCTED
Served as sole arbitrator, neutral arbitrator or party arbitrator for 9 insurance, reinsurance or commercial arbitrations andas an employee manager for an additional 7 reinsurance arbitrations. Acted as coordinating counsel for 2 mediations involving multimillion-dollar insurance coverage cases and bad faith issues.Served as mediator for 17 small claims court cases.
Issues addressed in arbitrations: Pollution, asbestos, and/or toxic tort claims; follow the fortunes and settlements; extra-contractual obligations; whether declaratory judgment expenses are covered under reinsurance treaties; facultative certificate coverage; the “Bellefonte” issue: whether expenses incurred are covered in addition to the loss limit under facultative certificates; retrospective premium disputes involving workers’ compensation policies; loss and premium calculations for per risk and aggregate excess of loss treaties; reduction incollateral obligations via letters of credit; whether a written consent to settlement clause is a condition precedent to coverage; commercial contract disputes.
2014 to present: Caprio Consulting and Coaching LLC – President
Provide insurance and reinsurance services, legal services, operational advising, and alternative dispute resolution services. Assist companies with managing risk, solving problems, improving efficiencies and resolving disputes. Party appointed, umpire and neutral party arbitrator for commercial disputes with a specialty in both insurance and reinsurance coverage issues. Mediator for commercial disputes.
2012 to 2014: Vice President and Manager of Corporate Procurement, Liberty Mutual Insurance
Transformed a decentralized procurement, sourcing and supplier management operation.
2007-2012: Vice President and Manager of Ceded Reinsurance
Standardized and improved contract wording for property and casualty reinsurance treaties and facultative certificates, and developed an internal reinsurance system. Mitigated credit risk, established risk tolerance and purchased cost effective business unit and corporate reinsurance protection, including treaties, swaps and catastrophe bonds. Set group-wide reinsurance standards for reinsurer selection, concentration, collateral, reinsurance contract administration, and broker performance.
1989-2007: Counsel and Senior Corporate Counsel, Liberty Mutual Insurance
Strategically advised worldwide on ceded or assumed facultative, treaty and retrocessional reinsurance matters. Provided legal advice to clients regarding credit risk, collateral quality, reinsurance contracts and reinsurance accounting issues. Handled reinsurance arbitrations, analyzed coverage issues, drafted and negotiated reinsurance-related contracts. Handled and resolved high exposure environmental (asbestos, pollution, toxic tort) coverage claims, litigation and reinsurance recoveries. Drafted general liability policy language.
ARIAS-U.S. Quarterly, 3rd Quarter, 2011: ARIAS-U.S. Announces Company Project to Improve Arbitration, Daniel FitzMaurice and Elaine Caprio Brady
ARIAS-U.S. Quarterly, 1st Quarter, 2016: A Prototype For a Next Generation Arbitration Clause, Elaine A. Caprio
SELECTED SPEAKING ENGAGEMENTS
2015 Panel: “Recent Changes in Contract Wording: Not Your Grandfather’s Clauses Anymore”
2016 Spring Seminar: “Looking Forward: New Products, New Language and New Approaches”
2016 Fall Seminar Panel: “Arbitration Cradle to Grave”
Eagle International Assoc.:2017 Panel Member: “Mediation, Techniques and Challenges”
Massachusetts Insurance & Reinsurance Bar Association
2015 Panel Moderator: “Replacing Reinsurance? How ILS is Re-shaping an Industry”;
2016 Spring Symposium Speaker: “Understanding Catastrophe Bonds”
2016 Panel Moderator: “To Be or Not to Be…Neutral.”