Tag Archives: Allocation

NY High Court Says “All Sums” and “Vertical” Exhaustion Apply to Excess Coverage for Asbestos Liabilities

On Tuesday, May 3, 2016, the New York Court of Appeals held that each of several excess liability insurers can be wholly responsible for the entire extent of their policyholders’ asbestos liabilities.  The Court further held that “vertical” exhaustion would apply; rejecting the insurers’ attempt to apply “horizontal” exhaustion before upper-layer policies must respond.  The … Continue Reading
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