Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk
In Utica Mutual Insurance Company v. Fireman’s Fund Insurance Company, the U.S. Court of Appeals for the Second Circuit, reversing a jury verdict in the District Court, held that the “follow-the-settlements” doctrine does not...more
In a lengthy February 24, 2017 opinion, a New York federal court denied cross motions for summary judgment on the Follow the Settlements Doctrine, filed by Utica Mutual Insurance Company and Utica’s reinsurer, Fireman’s Fund...more
The New York Court of Appeals recently answered two certified questions from the Delaware Supreme Court concerning insurance allocation, and the Court’s answers may impact significantly policyholders litigating “long-tail”...more
The case involved two facultative reinsurance contracts, each of which covered excess liability for similar umbrella liability insurance policies, and each of which contained a “follow the settlements” provision. After the...more