The court in Fulton Boiler Works, Inc. v. American Motorists Ins. Co., 5:06-CV-1117, 2010 U.S. Dist. LEXIS 28756 (N.D.N.Y March 25, 2010), held that two CGL insurers were obligated to pay for the entire cost of defending thousands of underlying asbestos bodily injury claims, without any contribution from their mutual insured, because they could not [...]
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Tagged as:
allocation,
asbestos,
duty to advance defense costs,
Duty to defend,
long-tail,
New York Insurance Law,
potential for coverage,
potentiality standard,
pro rata
In a recent New York appellate decision, entitled JPMorgan Chase & Co. v. Travelers Indem. Co., 2010 NY Slip Op 02075 (decided March 18, 2010), the court rejected the insurer’s position that the notice of circumstances provided by the policyholder lacked sufficient specificity. In rendering its holding, the court refused to accept several arguments typically made by insurers in [...]
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Tagged as:
Claims-Made Policies,
JPMorgan Chase & Co. v. Travelers Indem. Co.,
New York Insurance Law,
notice
