Craig A. Jacobson

Craig A. Jacobson is a Partner in the Chicago office of GRSM.  Craig concentrates his practice on Litigation and the handling of Complex Insurance Coverage disputes. Craig regularly represents domestic and international insurers in matters involving property policies, cyber policies, commercial general liability policies, financial institution coverages, commercial crime policies, director and officer liability policies, professional liability policies and specialty lines.  

Craig is an accomplished litigator. He has represented clients in cases involving significant exposures in courts across the United States.  Of note, Craig has successfully litigated several major first party property insurance actions, including claims arising from the 9/11 terrorist attacks and Hurricane Katrina. He often represents insurers specializing in mid-market property programs and has significant experience in resolving disputes specific to mid-market risks. He also represents insureds as appointed counsel in direct litigation involving a wide variety of claims, including professional liability, products liability, cyber, personal injury, trucking and commercial disputes.  

Craig also handles and litigates large exposure fidelity bond and commercial crime policy claims. His experience includes claims arising from Ponzi schemes, embezzlements, bribery, fraudulent loans, forgery, unauthorized trading and fraudulent mortgage conveyances.

A significant portion of Craig’s practice includes providing legal advice and representation to London market insurers. As a former legal secondee at a major London syndicate, Craig has a unique understanding of the London insurance market. In addition to property, casualty and financial institution claims, he is regularly retained to represent London based insurers across numerous specialty lines, including accident & health, products liability, contingency, marine, cargo, equine and livestock insurance. 

Craig is often retained to handle disputes involving third-party coverage and bad faith claims. He is a frequent lecturer on bad faith topics and has litigated bad faith claims in jurisdictions across the United States.

Admissions

• Illinois
• Wisconsin
• U.S. District Court, Northern & Southern District of Illinois
• U.S. District Court, Eastern & Western District of Wisconsin
   

Memberships 

• American Bar Association
• Illinois State Bar Association
• Chicago Bar Association 

First Party Property

• Representation of domestic commercial property insurer in $160 million property claim arising from Hurricane Katrina involving coverage issues including flood vs. wind causation, business interruption, extra expense, ensuing loss, civil authority and number of occurrences.
• Representation of domestic commercial property insurer in $30 million property claim arising from Hurricane Katrina involving coverage issues including flood vs. wind causation, business interruption, extra expense and ensuing loss.
• Representation of domestic commercial property insurer in $25 million property claim arising from the 9/11 terrorist attacks involving coverage issues including business interruption and extent of physical loss or damage.
• Representation of a domestic commercial property insurer in $21 million claim for alleged property damage due to Chinese drywall.
• Representation of an excess domestic commercial property insurer in $19 million tornado damage claim involving coverage issues including, business interruption, extra expense, ensuing loss and application of deductibles.
• Representation of a domestic commercial property insurer in $7 million fire claim rescission lawsuit based on material misrepresentations by insured in its insurance application.

Fidelity and Surety

• Representation of domestic insurer in $150 million fidelity bond claim arising from fraudulent equipment loan scheme at a major United States lender.
• Representation of London market and domestic insurers in $141 million fidelity bond claim arising from a commodity trading loss.
• Representation of London market insurers in fidelity bond claim in excess of $80 million arising from a residential mortgage fraud scheme at the largest independent mortgage lender in the United States.
• Representation of domestic insurer in $6 million commercial crime policy claim arising from a bribery/kickback scheme.

Specialty

• Representation of London market insurers in $4.5 million claim under accident & health policy for loss of value by professional athlete.
• Representation of London market insurers in large exposure claim under accident & health policy claim for temporary total disability by professional athlete.
• Representation of London market insurers in policy limit claim for horse euthanization under bloodstock insurance policy.   
• Representation of London market insurers in $1 million claim for wine contamination under marine stock throughput policy.  
• Representation of London market insurers in policy drafting and claim coverage issues involving surrogacy insurance.
• Representation of London market insurers in claim coverage issues involving marine open cargo insurance. 

Products Liability

• Representation of international insurer in multi-district product liability claims related to popcorn flavoring. 
• Representation of international insurer in multi-district product liability claims against major domestic tire manufacturer.

Presentations

• Harvey and Irma: Coverage Issues and Perspectives, London market (November 2017)
• Bad Faith Law: Principles, Trends and Traps for the Unwary, London market (November 2016)
• A Primer on the Law Governing Manuscripted and Unique Policy Language, ABA Fidelity & Surety Law MidWinter Meeting (January 2015)
• How Can An Insurer Maximize Salvage and Subrogation Opportunities? Legal Principles and Practice Tips for Recovery Efforts, ABA Fidelity & Surety Committee Fall Conference (November 2014)

Publications

• Co-author, Recent Developments in Property Insurance Law, Tort Trial & Insurance Practice Law Journal, American Bar Association (Winter 2015)
• Author, Subrogation, Salvage and Recovery, Commercial Crime Insurance Coverage, American Bar Association (October 2014)
• Co-author, Recent Developments in Property Insurance Coverage Litigation, Tort Trial & Insurance Practice Law Journal, American Bar Association (Fall 2013)
• Co-author, Recent Developments in Property Insurance Coverage Litigation, Tort Trial & Insurance Practice Law Journal, American Bar Association (Fall 2012) 
• Author, Coverage Considerations For Precious Metal Theft Damage Claims, GRSM Insurance Law Quarterly Newsletter (Fall 2012)
• Co-author, Recent Developments in Property Insurance Law, Tort Trial & Insurance Practice Law Journal, American Bar Association (Fall 2011)

Education

J.D., DePaul University College of Law, 2002

B.A., University of Michigan, 1999

Honors

Rising Stars® distinction in the field of Insurance Coverage, 2011