Chung Will Co-Chair Firm’s Fintech and Property and Casualty Insurance Regulatory and Transactional Practice
Carlton Fields is pleased to announce the hiring of Huhnsik Chung as shareholder in the firm’s New York office. Chung will serve as co-chair of Carlton Fields’ Fintech and Property and Casualty Insurance Regulatory and Transactional Practice Group, which directly addresses the gamut of clients’ legal, financial, and technology needs.
Chung was previously a partner at Stroock & Stroock & Lavan LLP, and earlier, chaired the North America Insurance practice at Baker McKenzie.
With Chung’s arrival, Carlton Fields continues its strategic expansion of its signature Insurance Practice. Along with the firm’s Life Insurance and Property and Casualty Insurance practices, the Fintech and Property and Casualty Insurance Regulatory and Transactional Practice offers a one-stop shop of legal, regulatory, compliance, fintech, and blockchain platform development services. In total, Carlton Fields’ national insurance practices include more than 110 lawyers and government consultants.
Carlton Fields’ premier Insurance Practice has earned numerous awards and commendations including ranking No. 1 in the country for 15 consecutive years by
Chambers USA and being recognized by corporate counsel as being among the 21 law firms nationally with the best insurance industry client relationships (BTI Consulting's Power Rankings).
“I am indeed excited to join one of the profession’s great insurance practices,” said Chung. “When it comes to one-stop shopping, Carlton Fields is a firm that truly walks the walk, with one of the largest insurance-dedicated groups in the country. I look forward to serving a broad range of clients on a variety of evolving matters.”
Chung further added: “The entire insurance sector is trying to embrace technology and the radical changes and challenges that blockchain, artificial intelligence, machine learning, analytics, telematics, and other innovations present. The work we’re doing in these areas at Carlton Fields is transformative.”
With more than 30 years of experience in the regulated financial and insurance sectors, Chung has led multidisciplinary client teams handling complex and diverse matters on behalf of international and local insurers and reinsurers, captives, insurance intermediaries, insurance technology companies, risk purchasing groups and risk retention groups, investors, and regulators.
Chung has also been immersed in blockchain and digital asset development and deployment in his representation of accelerators, exchanges, sponsors, investors, developers, and banks with a focus in Asia and Bermuda.
“Today’s insurance industry is in a state of evolution that is both exciting and challenging for our clients,” said Steven J. Brodie, co-chair of Carlton Fields’ Property and Casualty Insurance Practice. “Huhnsik will be in the forefront, playing a leadership role at Carlton Fields as we continue to help our clients meet and master those challenges. His expertise is immense, and his record of achievement is remarkable.”
On the dispute side, Chung has served as lead counsel in more than 70 insurance, reinsurance, and commercial proceedings in the U.S. and abroad. He has left a particular imprint in the energy sector with an emphasis on oil and gas companies and utilities insured through industry mutuals and captives.
“Carlton Fields is delighted to welcome an attorney of Huhnsik’s caliber and reputation,” said Robert W. DiUbaldo, co-chair of Carlton Fields’ Property and Casualty Practice. “Huhnsik is highly regarded in the insurance and legal industries. His arrival sends a clear message that Carlton Fields remains committed to providing its clients access to premier legal talent in an ever-evolving industry.”
Chung has lectured and published widely and is often quoted by media on issues of insurance and blockchain, and sought-out as a speaker on issues related to cannabis, InsurTech and risk management. He has also garnered numerous honorifics, including being recognized by
Super Lawyers, Martindale-Hubbell (AV rated),
Legal 500,
Lawyers of Color as one of the Nation’s Best, KALAGNY (Korean American Lawyers Association of Greater New York) as a Trailblazer, and he is a Fellow of Litigation Counsel of America. Chung also serves on the boards of the Insurance Federation of New York, the Asian-American Legal Fund of New York, and as an advisory board member of the Asian-American Bar Association of New York. He earned his J.D. from Cornell Law School and B.S. from Cornell University.