The Storm Has Passed For NY Insurance Law

Law360, New York (February 21, 2014, 4:50 PM EST) -- This article addresses the background and impact of the extraordinary ruling on Feb. 19 by the New York Court of Appeals, vacating its own prior decision in the K2 action from last June. See K2 Investment Group LLC v. American Guarantee & Liability Insurance Co., 21 N.Y.3d 384 (2013).

As described in detail below, on reargument, the Court of Appeals found that its prior K2 decision conflicted with its own precedent, and that there was no rational reason for departing from a well-established rule of New...
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