Teresa is an insurance and reinsurance lawyer and has handled numerous arbitration hearings and court cases, including matters related to coverage and allocation, treaty interpretation, late notice, bad faith, misrepresentation and nondisclosure allegations, claim handling, issues arising out of common account excess of loss reinsurance, actuarial standards for calculating IBNR, and agency issues. She also provides counseling on contract wording and coverage issues, assists clients in assessing their rights against insolvent insurers, and drafts commutation and settlement agreements.
She represents both ceding insurers and assuming reinsurers.
In 2011-2018, Teresa was recognized as a leading lawyer in reinsurance litigation by Chambers USA - America's Leading Lawyers for Business. “Client favorite Teresa Snider ‘is always well briefed and well organized and seems to take inordinate amounts of hard work and planning in her stride.’” “Teresa Snider is praised by clients as ‘an excellent attorney in the field of reinsurance arbitration.’ She has a wide-ranging practice and represents both ceding insurers and assuming reinsurers.” “She is lauded by her clients as an ‘effective and knowledgeable’ practitioner.” “The ‘very smart, very capable’ Teresa Snider is regularly involved in complex litigation for major insurance and reinsurance clients. She also counsels on a range of non-contentious matters.” “One impressed client reports: ‘Our experience with her has been excellent. She is bright, thoughtful, even-tempered, has a great eye for detail and is incredibly hard-working. She has an enormous capacity for detail and a great analytical mindset.’”
Teresa was recognized by Business Insurance as a 2017 Women to Watch. Awardees include leading women from every facet of the commercial insurance industry. And, she was named to Intelligent Insurer’s list of the Most Influential Women in Re/Insurance 2017. This list features female executives excelling in and changing the risk transfer industry.
In 2018, Lawdragon named Teresa one of America’s Leading 500 Lawyers. And, she was recognized in the 2018 edition of The Legal 500 United States as a “recommended” leading attorney in Insurance: Advice to Insurers. Teresa was also selected by Corporate Counsel as a 2018 National Women in Law honoree. Teresa was named as a leader in insurance law in The Best Lawyers in America (2012-2019). And, in 2005 and 2009-2018, she was named as a leader in business litigation by Illinois Super Lawyers. And, as part of the Law Bulletin Publishing Group’s 2014-2017 surveys of the top lawyers in the state, Teresa was designated a “Leading Lawyer” in Illinois in Insurance, Insurance Coverage and Reinsurance Law.
Teresa joined Butler Rubin in 1994 after a clerkship with Hon. Harry D. Leinenweber, U.S. District Court, Northern District of Illinois.
Teresa has arbitrated and litigated reinsurance issues of all kinds, including:
- Representing reinsurers in disputes regarding late notice of claims.
- Representing reinsurers in disputes regarding their cedents’ cession of policies and claims not covered by the reinsurance agreements.
- Representing an insurer in lawsuits against various lenders concerning credit insurance policies.
- Representing an insurer in a dispute with its policyholder regarding coverage for asbestos losses.
- Representing a retrocedent in a dispute over alleged non-disclosures in placing a retrocessional property catastrophe program.
- Representing a reinsurer in a dispute regarding expenses associated with its cedent’s administration of workers compensation claims.
- Representing a cedent in disputes relating to its placement of treaties covering health care professional liability, and to its claims handling practices thereunder.
- Representing a workers compensation insurer in various disputes with its reinsurers.
- Representing Sphere Drake Insurance Limited in litigation and arbitration proceedings relating to disputes arising out of the reinsurance of workers’ compensation carve-out business, including disputes over the forum in which the existence of the reinsurance contracts should be decided.
- Sphere Drake Ins. Ltd. v. Clarendon Nat’l Ins. Co., 263 F.3d 26 (2d. Cir. 2001); Sphere Drake Ins. Ltd. v. All Am. Ins. Co., 256 F.3d 587 (7th Cir. 2001), establishing an important precedent with respect to arbitrability; both Courts ruled that the issue of an agent’s lack of authority to enter into a contract containing an arbitration clause is for the courts, rather than arbitrators, to decide
- Sphere Drake Ins. Ltd. v. All Am. Life Ins. Co., 307 F.3d 617 (7th Cir. 2002), reversing the district court's vacatur of an arbitration award on evident partiality grounds; the Court of Appeals held that the standard of "evident partiality" adopted by the United States Supreme Court in Commonwealth Coatings for neutral arbitrators does not apply in the tripartite context to party-appointed arbitrators
- Sphere Drake Ins. Ltd. v. All Am. Ins. Co., 2004 WL 442640 (N.D. Ill. 2004), aff’d, 103 Fed. Appx. 39 (7th Cir. 2004); Sphere Drake Ins. Ltd. v. Clarendon Nat’l Ins. Co., No. 00 CV 4336 (S.D.N.Y. 2004); and Sphere Drake Ins. Ltd. v. Lincoln Nat’l Life Ins. Co., 2006 WL 2699270 (N.D. Ill. 2006), confirming arbitration awards in favor of Sphere Drake where panels used summary proceedings to render their awards
- Representing a reinsurer of Legion Insurance Company in a dispute over whether an insured of Legion was a third party beneficiary of the reinsurance agreement.
- Representing cedents and reinsurers of Delta America Re Insurance Company, Transit Casualty Company, and American Eagle Insurance Company in disputes over the Liquidators’ claim determinations and ownership of reinsurance recoverables.
- Representing the Hartford Insurance Company in numerous cases, including an arbitration proceeding in which First State recovered nearly $50 million from two of the participants on the H.S. Weavers line slip. First State et al. v. Winterthur et al., Mealey’s Litigation Report: Re