Steven P. Nassi
Steven P. Nassi focuses his practice on assisting U.S., London and Bermuda Market insurers with complex coverage issues, risk-management, and the defense of extra-contractual claims. He handles a variety of first-party insurance claims, including the investigation and defense of claims involving fraud and other types of misconduct, often during the investigative and adjustment phases of the claim. Clients value Steve’s ability to develop and execute resolution strategies early in the process.
Steve also counsels and defends clients in cases involving various P&C lines, such as property, marine, boiler & machinery/ equipment breakdown, construction and builders’ risk programs, business interruption and time element cover, cyber, environmental, privacy and data breach, and various forms of energy insurance covering on/off-shore oil, gas and other power generation risks. He has litigated in state and federal courts throughout the United States and served as national coordinating-counsel on matters arising out of Superstorm Sandy, COVID-19 and other catastrophes. He has argued and obtained summary disposition in several trial courts across the country and at the appellate level. Steve is a skilled negotiator, with extensive experience representing clients in mediation, arbitration and other ADR processes, including Bermuda form arbitration proceedings.
Steve regularly assists clients in drafting policy forms to address emerging and novel risks, as well as an ever-changing regulatory and legal landscape. He also counsels parties in developing appropriate OCIP and CCIP insurance programs for construction and other real estate developments projects. Steve currently serves as outside general counsel to several insurance industry participants, partnering with clients to develop and execute strategic objectives.
In addition to his coverage practice, Steve also counsels reinsurers and cedents in disputes arising out of various reinsurance arrangements. His experience includes representing clients in contentious matters involving managing general agents and underwriters, third-party administrators, producers, and books of business.
Steve has authored numerous articles and is a regular speaker and lecturer on insurance and reinsurance issues. He has developed a number of programs and provides instruction to clients on claims handling practices, settlement and claim resolution strategies, regulatory compliance, and management of claims involving bad faith allegations and other extra-contractual claims. Steve has also represented insurance clients facing investigations by various states’ department of insurance.
Steve received his bachelor’s degree from SUNY Binghamton, with distinction, and his JD from Benjamin N. Cardozo School of Law. During law school, Steve served as a supervising editor of the Cardozo Law Review (2002 – 2003) and, as a member of the Innocence Project, helped exonerate a prisoner convicted in 1987.
He is currently the Co-Chair of Cardozo Law School’s Insurance Law Group, which educates law students on the various facets of insurance law and brings together industry alumni from across the country.
- Recognized in Super Lawyers, New York Metro, Rising Stars, Insurance Coverage, 2021
- AV Preeminent Peer Reviewed Rating from Martindale-Hubbell
- “Four Years After Sandy, Storm Resilience Lags,” co-authored with Patrick Kennell and Ryan Westerfield, Risk Management Magazine, October 3, 2016
- “Policy Language Or No, You Can’t Depreciate Labor In Ark,” co-authored with Benjamin R. Messing, Law360, January 4, 2016
- “The Calm Before The Next Storm: What Insurance Leaders Should Know About Resiliency,” 26 Westlaw Journal, Insurance Coverage 11, December 18, 2015
- “Can You Depreciate Labor? A Divided Arkansas Supreme Court Says No,” co-authored with Benjamin R. Messing, Insurance Law Alert, December 18, 2015
- “K2-II Update: Insurer’s Breach of Duty Does Not Result in Automatic Liability in NY,” co-authored with Patrick Kennell and Benjamin R. Messing, Lexology, February 19, 2014
- “Federal PA Court Permits ‘Bad Faith Set-Up” as a Defense to Insured’s Bad Faith Claim,” co-authored with Grace Hong, Lexology, December 10, 2013
- “New York Federal Court Affirms Geographic Reach of the State’s Late Notice Statute,” Lexology, October 1, 2013
- “The Fuss Over Fracking: An Examination of the Insurance issues Associated with Hydro-Fracking,” White Paper, April 1, 2013
- “Reformation based on Mutual Mistake Available Under New Jersey law Even When Sought Against Third-Party Not Involved in Contract Negotiations,” Lexology, August 25, 2011
- “Japan’s Government Will Likely Bear Most of the Damages Resulting From the Earthquake,” Lexology, March 17, 2011
- “Insureds and Underwriters Concerned With Unrest in Egypt,” Lexology, February 11, 2011
- “Cyclone Yasi Causes Major Damage, Exposes Potentially Significant Insurance Losses,” Lexology, February 4, 2011
- “A Right to Recover Consequential Damages in NY,” Law360, April 14, 2009
- “Consequential Damages: New Developments in New York Caselaw Regarding an Insured’s Right to Recover Extra-Contractual Damages,” co-authored with Laurie Kamaiko, Mondaq, March 2009
- “New York’s Longstanding ‘No Prejudice’ Rule is Overturned,” co-authored with Laurie Kamaiko, International Law Office, September 23, 2008
- “New York’s Reversal of its Longstanding ‘No Prejudice’ Rule and its Expansion of Rights of Direct Action Against Insurers: How Broad is Their Effect?,” co-authored with Laurie Kamaiko, Martindale, September 18, 2008
- Speaker, “The Many Policies Involved in a Construction Project: Wrap-ups, CCIP, OCIP Builder’s Risk,” 2018 NYSBA Insurance Coverage Update – A Glimpse Forward and a Glance Back, May 11, 2018
- Presenter, “Builder’s Risk: When Reality Is Stranger Than Fiction,” 2017 PLRB Large Loss Conference, Nov. 15–17, 2017
- Presenter, “A Twenty-Four Hour Water Loss Mystery,” 2016 PLRB Large Loss Conference, Oct. 4–6, 2016
- Presenter, “Fracking – An Emerging Resource and Source of New Risk,” 2015 Casualty Loss Reserve Seminar hosted by Casualty Actuarial Society, Sept. 9–11, 2015
- Presenter, “Blurred Lines: Adjusting & Appraising Large Loss,” 2014 PLRB Large Loss Conference, Oct. 29–31, 2014
- Presenter, “Fracking – An Emerging Resource and Source of New Risk,” 2014 Casualty Loss Reserve Seminar hosted by Casualty Actuarial Society, Sept. 15–17, 2014
- Speaker, “Hydrofracking Risks and Coverage Issues,” Finger Lakes Insurance Council Claims Roundtable, Jun. 25, 2014
- Speaker, “Hydrofracking Risks and Coverage Issues,” Finger Lakes Insurance Council Claims Roundtable, Apr. 2, 2014
- Speaker, “Don’t Be Fooled: Hydrofracking Exposures Are Real,” Syracuse CPCU Society Chapter, Apr. 1, 2014
- Speaker, “Insurance Implications of Hydrofracking,” New York County Lawyers’ Association, Jan. 27, 2014
- Speaker, “Insurance and Reinsurance Implications of Fracking With Emphasis on Earthquake and Silica Exposures,” RAA Conference – Reinsurance Claims and Loss Management, Sept. 12-13, 2012
- Speaker, “Insurance Implications of Hydraulic Fracturing – The New Generation of Environmental Claims,” NYSBA Advanced Insurance Coverage Seminar, Jun. 1, 2012
- Speaker, “Emerging Environmental Risks Under Traditional and Specialty Lines Insurance,” ABA – Insurance Coverage Litigation Conference, Mar. 1-3, 2012
New York, 2004
New Jersey, 2003
J.D., Benjamin N. Cardozo School of Law, 2003
B.A., State University of New York, Binghamton, 2000