It has been an eventful year in New York for those who focus on issues concerning allocation for so-called “long-tail” insurance claims, that is, claims that trigger multiple consecutive insurance policies like asbestos bodily injury and environmental property damage claims.
After a groundbreaking pro-policyholder insurance allocation decision by the New York Court of Appeals in May, a September 1st decision by the First Department has caused another upheaval, not a good one for policyholders. In the Matter of Viking Pump and Warren Pumps, Insurance Appeals (N.Y. Court of Appeals No. 59 May 3, 2016) (Viking Pump); Keyspan Gas East v. Munich Reinsurance America, — N.Y.S.3d —-, Supreme Court, Appellate Division, First Department, New York 2016 WL 4543479 (9/1/2016) (Keyspan).
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