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Provided by Michael Costello
Michael G. Costello concentrates his practice in commercial, insurance and corporate law and litigation. He provides his clients with deep expertise and insight into a broad range of legal and business issues having served for 23 years as general counsel to a publicly-traded insurance holding company.
Mr. Costello leverages this experience to provide efficient and effective counsel to large and small businesses in a variety of industries, as well as high net worth individuals and their closely-held companies. He frequently advises board members and executives on sensitive issues related to corporate governance, regulatory compliance, and strategic transactions. He represents policyholders and members of the insurance industry providing regulatory, insurance coverage and transactional advice to insurance agents and insurance companies. He also consults with and assists policyholders with their purchase of insurance. In addition, Mr. Costello serves as a mediator and arbitrator for insurance coverage and reinsurance disputes between insurers and reinsurers.
As General Counsel of Meadowbrook Insurance Group, Inc. Mr. Costello managed the legal department and all of its activities for this large, complex, and highly-regulated company. His primary activities and accomplishments at Meadowbrook included the following:
Managed and supervised litigation against the company. Successfully defended two shareholder class actions, SEC inquiries, coverage and bad faith litigation, reinsurance disputes, and significant employment and commercial matters across the United States.
Managed the public Company’s Human Resources, Claims, and Internal Audit Departments.
Led the corporate legal department through thirteen corporate acquisitions, two public company mergers, and several insurance agency acquisitions.
Managed the Company’s compliance with all SEC securities filing requirements.
Completed all insurance holding company filings and led responses to all regulatory examinations.
Successfully completed a corporate recapitalization, secondary offering, convertible debt offering, credit agreements, and the ultimate sale of the Company.
Mr. Costello is active and has held leadership positions with a number of professional and charitable organizations, including the following:
University of Detroit Mercy School of Law Dean’s Advisory Board, Member (2016-present)
Oakland Hills Country Club Evans Scholar Committee, Member (2016-present)
Oakland Hills Scholarship Trust, Member (2021- present)
American Society of Corporate Secretaries, Past Member
University of Detroit Mercy School of Law Alumni Association, Past President and Director
Association of Corporate Counsel (ACC) Michigan Chapter, Past President and Director
ACC Foundation Michigan Chapter, Past President and Director
Insurance Institute of Michigan, Past Director and Executive Committee Member
Federation of Defense Counsel, Past Member
Oakland County Bar Foundation, Past Director
Immediately before joining Bodman, Mr. Costello was with a boutique firm based in Southfield, Michigan that practiced insurance and business law along with litigation. Before joining Meadowbrook, he practiced corporate, insurance, and employment law for eight years as an associate and shareholder with a large southeast Michigan insurance defense firm.
Mr. Costello served as an Adjunct Professor at WMU-Cooley Law School, where he taught courses in Insurance and Reinsurance Law as part of the Insurance LL.M. program. He has presented at conferences and programs on topics related to insurance law, employment law, and corporate governance.
His numerous accolades include recognition as a Leader in the Law by Michigan Lawyers Weekly (2008) and the Time & Talent Award for volunteer contributions to the University of Detroit Mercy School of Law (2012).
Co-Author (with Michelle Thurber Czapski), “COVID-19 Impact on the Insurance Industry,” Bodman COVID-19 Response Team Update, May 2020
Co-Author (with Michelle Thurber Czapski), “COVID-19 Impact On Business Insurance Coverage,” Bodman COVID-19 Response Team Update, March 2020
University of Detroit Mercy School of Law, J.D.
Provided by Chambers
Michael Costello is a trusted adviser to businesses and high net worth individuals on insurance coverage. He draws on extensive experience as a general counsel in the insurance sector.
