Law360, New York (November 22, 2013, 5:37 PM EST) -- So-called "long-tailed" toxic tort claims, such as asbestos or environmental liabilities, are one of the most pervasive corporate liability exposures around. Insurance coverage is a critical, and sometimes essential, part of the strategy in dealing with such exposures. While the coverage issues are complex, fortunately for Wisconsin policyholders, Wisconsin law is generally very favorable to insureds in this area. Wisconsin is a "continuous trigger" state, meaning that any policy on the risk during a period when continuous injury is occurring is responsible for responding to the claim. Wisconsin has adopted "joint and several" or "all sums" allocation, meaning that any policy that is "triggered" must pay in full up to policy limits, even if part of the damage takes place in uninsured periods. Finally, Wisconsin has adopted "vertical exhaustion," meaning that an insured can access excess coverage without necessarily exhausting all primary coverage....