Angelo G. Savino

Chair, Professional Liability Practice Group

New York

(212) 908-1248

(917) 521-5854

Angelo G. Savino concentrates his practice on matters involving directors & officers liability, professional errors and omissions liability, fiduciary liability, employment practices liability, and corporate indemnification. With more than 30 years as a practicing attorney, he has extensive experience handling all aspects of coverage analysis, claims management, mediation, and settlement of all types of claims, including securities class actions, derivative actions, employment practices, ERISA and other complex litigation.

Angelo has represented major D&O and fiduciary insurers in a number of "mega cases" in both U.S. and international matters. He has extensive experience as insurer coverage counsel handling all aspects of '33 Act and '34 Act securities class actions, including analysis of potential damages exposure and negotiation of settlements. He has also handled matters involving investigations and litigation by the SEC, the Department of Justice, and the Ontario Securities Commission; claims against investment advisers and mutual funds; shareholder derivative claims; claims against pharmaceutical manufacturers; claims involving private equity firms and their portfolio companies; and claims against banks and other financial institutions.

Angelo has litigated coverage cases in state and federal courts for professional liability insurers, involving a wide variety of coverage terms and provisions. He has also handled litigation and settlement of rescission claims based on misrepresentations in financial statements on which the policies were underwritten, as well as with respect to coverage for ERISA "stock drop" cases. In addition, Angelo has counseled clients regarding policy drafting issues and has extensive experience litigating insurance coverage matters in numerous jurisdictions throughout the United States.

Angelo earned his undergraduate degree from Fordham University, and his law degree from Fordham University School of Law, where he was an editor of the Fordham Law Review.

Experience

News

Angelo Savino Quoted in Law 360 on Unfinished-Business Litigation

September 22, 2014

Angelo Savino of the Global Insurance Department was quoted in a Law360 article titled "Unfinished-Business Suits Live On Despite NY Drubbing."

Angelo Savino Discusses Aleynikov v. Goldman Sachs in Law360

September 05, 2014

Angelo Savino, of the Global Insurance Department, is quoted in this Law360 Article titled "Goldman's Vague Corporate Titles May Still Cost It Millions" on Aleynikov v. Goldman Sachs. Goldman Sachs Group Inc. may have won over the Third Circuit when the court axed an award of legal fees to a former vice president accused of stealing trading code, but the bank could have avoided the mess — and the prospect of further litigation — had it better defined what being a Goldman VP means, attorneys say.

Angelo Savino & Kristie Abel Discuss Aleynikov v. Goldman Sachs in Law360

December 16, 2013

Angelo Savino and Kristie Abel, members of Cozen O'Connor's Global Insurance Group, recently published an article titled “Aleynikov v. Goldman Sachs Provides Valuable D&O Insight” in Law360. The article discusses how the Aleynikov v. Goldman Sachs decision provides an interesting lesson in the differences between indemnification and advancement and who may be considered an officer for purposes of awarding indemnity and advancement.

Angelo Savino Quoted in Law360

June 10, 2013

In an article titled, "2nd Circuit Walls Off Favored Path To Early Excess Coverage," Angelo Savino (New York, NY) of the Global Insurance Group comments on the topic of the Second Circuit last week gutting a key precedent that policyholders have long used to argue that excess liability insurers should drop down and pay for losses not covered by lower-level carriers, drawing narrow boundaries around an influential 1928 decision in ruling against the officers of bankrupt technology company Commodore International Ltd.

Angelo Savino Quoted in Reuters

June 04, 2013

In an article titled, "Ex-Goldman VP Tourre loses bid to narrow SEC fraud case," Angelo Savino (New York, NY) of the firms Global Insurance Group discusses Former Goldman Sachs Group Inc. Vice President Fabrice Tourre losing a bid to limit a U.S. Securities and Exchange Commission civil fraud case against him over a transaction that led to a $550 million settlement by the Wall Street bank.

Publications

Seventh Circuit Eases ERISA Plaintiffs’ Pleading Burden Against Private Company Plan Fiduciaries [Global Insurance Alert]

October 12, 2016

Angelo G. Savino and Alexander Selarnick discuss the Seventh Circuit's decision in Allen v. GreatBanc Trust Co and its ramifications for ERISA plan fiduciaries and their insurers.

Allocation Clause Held Enforceable in a Duty To Defend D&O Policy [Global Insurance Alert]

March 07, 2016

Angelo Savino and Nicholas Bamman discuss a federal court decision in Louisiana providing a rare analysis of the interplay between a duty to defend in a D&O policy and the allocation clause in that same policy.

Eleventh Circuit Holds No Duty to Defend Directors Serving in Mixed Capacities [Global Insurance Alert]

July 02, 2015

Looking to the fact allegations in the complaint against the insureds, the court found that but for the individual actions as trustees there would be no claim against any insured entity.

Supreme Court Expands Scope of Fiduciary Liability [Global Insurance Alert]

May 28, 2015

In Tibble v. Edison International, the Supreme Court ruled that trustees of ERISA plans owe a continuing duty to monitor trust investments on a regular basis and remove those that become imprudent.

Georgia Supreme Court: Insured Cannot Sue for Settlement Amount or Bad Faith Absent Insurer’s “Consent to Settle” [FC&S Legal]

May 14, 2015

The Georgia Supreme Court unanimously held that when an insured fails to seek its insurer’s consent to settle a claim, the insured cannot pursue litigation against its insurer to recover settlement amounts paid by the insured without its insurer’s consent or for bad faith refusal to settle.

Events & Seminars

Past Events

2019 Professional Liability Seminar

October 03, 2019 - New York, NY

2018 Professional Liability Seminar

November 01, 2018 - New York, NY

2017 Professional Liability Seminar

October 12, 2017 - New York, NY

Industry Sectors

Education

  • Fordham University School of Law, J.D., 1981
  • Fordham University, B.A., 1978
  • New York
  • U.S. Court of Appeals for the Second Circuit
  • U.S. District Court -- Eastern District of New York
  • U.S. District Court -- Southern District of New York
  • U.S. Supreme Court
  • American Bar Association
  • Association of the Bar of the City of New York
  • New York State Bar Association