Asbestos Insurance Industry

News & Analysis as of

Court Refuses To Compel Production Of Cedent’s Documents To Reinsurer When Extent Of Cedent’s Obligation To Provide Documents Is...

A court has denied a motion to reconsider its decision denying a reinsurer’s (Century Indemnity Co.) motion to compel an insurer (Travelers Casualty and Surety Company) to produce certain documents in a case in which...more

For Whom the Bell(efonte) Tolls

“It ain’t over until it’s over.” but it appeared to be over, although, and it did come as a bit of a surprise for most of the industry. Capping the limits on defense costs/expenses under facultative certificates caught many...more

Adding Fuel to the Bellefonte Fire? Second Circuit Asks New York’s Highest Court For Guidance as to Reinsurer’s Limit of Liability

In Global Reins. Corp. of Am. v. Century Indem. Co., 2016 WL 7156549 (Dec. 8, 2016), the U.S. Court of Appeals for the Second Circuit asked New York’s highest court, the New York Court of Appeals, to provide guidance as to...more

Insurance Recovery Law - November 2016

Asbestos Injury Continuous, Delaware Supreme Court Rules - Why it matters - In the latest ruling in the long running asbestos litigation involving pump manufacturers in Delaware, the state's highest court declared,...more

Suit Against Reinsurer In California Dismissed For Lack Of Personal Jurisdiction

A federal district court in California recently dismissed a lawsuit brought by a cedent against its reinsurer for lack of a personal jurisdiction, where the reinsurer’s only contacts with the state derived from the fact that...more

New Jersey Appellate Division Affirms Policyholder Victories for Coverage of Asbestos Claims

On July 20, 2016, the New Jersey Superior Court, Appellate Division, issued its opinion affirming the trial court’s entry of final judgment in favor of the policyholder, Honeywell International Inc. (“Honeywell”), on its...more

Excess Policies at Issue Deemed Not to Attach Absent Actual Payment of the Amount of Underlying Limits by Either the Insured or...

Policyholders contemplating insurance coverage settlements with low-level insurers should use caution to preserve their ability to access higher-level excess policies. Excess insurers are increasingly disputing that...more

“All Sums” Claims Another Victory, This Time In New York

In Viking Pump, Inc., et al. v. TIG Insurance Co., et al., 2016 N.Y. LEXIS 1018 (N.Y. May 3, 2016), policyholders scored a victory when New York’s highest court applied “all sums” allocation and vertical exhaustion. The...more

Illinois Federal Court Transfers “Late Notice” Reinsurance Dispute To Pennsylvania

R&Q Reinsurance Company issued a facultative reinsurance certificate to St. Paul Fire & Marine Insurance Company, which reinsured a policy issued by St. Paul to Walter E. Campbell, Co. The broker who placed the certificate...more

New York’s Highest Court Holds All Sums Allocation And Vertical Exhaustion Applied To Excess Insurance Coverage For Asbestos...

On May 3, 2016, the Court of Appeals of New York issued its opinion in In re Viking Pump, No. 59, 2016 WL 1735790, and found that “all sums” allocation and vertical exhaustion applied to the insureds’ claims to excess...more

What Methods of Allocation Will Prevail in New York?

In the Matter of Viking Pump, Inc. and Warren Pumps LLC Insurance Appeals, No. CTQ-2015-00003 (NY) - Yesterday, on March 29, 2016, the New York Court of Appeals, New York’s highest court, will hear oral argument on two...more

Illinois Court: Multi-year Policy Limits Applied To Entire Policy Period, Not Annually, And Payments For Potentially Covered...

An Illinois trial court recently addressed the issue of whether an insurer exhausted its limits of liability in paying nearly $90 million for an insured’s defense and indemnity associated with asbestos bodily injury claims. ...more

Federal Court Allows Sealing Of A Petition Seeking Confirmation Of Arbitral Award

On August 14, 2015, a federal district court in New York entered an order allowing a petition to confirm an arbitration award to be filed in redacted form with the arbitration award to be filed under seal. The case is pending...more

Better Late Than Never: The California Supreme Court Reverses Itself, Holding That Corporate Policyholders May Assign Insurance...

Asset purchase and sale transactions are a preferred structure for many corporate deals. For a variety of reasons, it may be prudent for businesses or product lines to be transferred through these transactions, and an asset...more

California Declares New Rules for Assignment of Long Tail Claims

Last week, in a unanimous decision, the Supreme Court of California changed the law governing anti-assignment provisions in liability insurance policies. Twelve years ago, in Henkel Corp. v. Hartford Accident & Indemnity...more

California Supreme Court Reverses Prior Ruling On Anti-Assignment Clauses

In Fluor Corporation v. The Superior Court of Orange County (Hartford Accident & Indemnity Co., real party in interest), 2015 Cal. LEXIS 5631 (Aug. 20, 2015), the California Supreme Court determined that California Insurance...more

Victory for California Policyholders

Last week, the California Supreme Court ruled in Fluor Corp. v. Superior Court, No. S205889, 2015 WL4938295 (Cal. 2015), that an insurer is precluded from refusing to honor an insured’s assignment of rights for past losses...more

Mergers Just Became Safer for California’s Corporate Policyholders

This morning the California Supreme Court announced the thoroughly sensible ruling that a corporation may transfer its rights under liability insurance policies without obtaining the consent of the insurance company. Fluor...more

Reinsurers’ Motion To Vacate Arbitration Award Held Time-Barred

A federal judge in New York has denied reinsurers’ motions for relief from a prior judgment. The reinsurers, Equitas Insurance Limited and Certain Underwriters at Lloyd’s of London, argued that they were entitled to judicial...more

Insurance Recovery Law - April 2015

Legal Issues Not Proper Expert Testimony - Why it matters: As a good reminder concerning the boundaries for admissibility of expert opinions, a federal court in Texas recently granted a policyholder’s motion to strike an...more

DRM client wins important case precluding termination of insurer insolvency before contingent or unliquidated claims can be...

The Vermont Supreme Court has ruled in In Re Ambassador Ins. Co., 2015 VT 4 (Vt. Jan. 23, 2015) that the liquidator of Ambassador Insurance acted unreasonably in setting a December 31, 2013 bar date for policyholder claims...more

Cedent Loses Motion For Reinsurance Payments Due To Late Notice And “Unsatisfactory” Proof Of Loss, Notwithstanding “Follow The...

In a reinsurance coverage dispute involving coverage for an underlying settlement of asbestos liability, a New York court considered whether the defenses of failure to provide prompt notice and failure to provide satisfactory...more

New Jersey Appellate Court Keeps “Running Spigot” Open on Allocation of Defense Costs Under Non-Eroding-Limit Fronting Policies...

New Jersey’s Appellate Division recently affirmed each of several challenged rulings rendered in a long-running coverage dispute between plaintiff IMO Industries and its many historical insurers arising from asbestos...more

Policyholder Observer

Encryption Flaw "Heartbleed" Creates Data Risk: How Insurance Can Stanch the Bleeding - In early April, news broke of an encryption flaw named “Heartbleed” that exposed companies to data breaches for over two and one...more

Court Construes Disputed Insurance Policy Language And Requires Reinsurer To Follow The Settlements

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

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