How 2 Cases Have Settled NY Insurance Allocation Law

By Cort Malone and Vivian Michael (August 15, 2018, 3:33 PM EDT) -- The past two years have seen insurance coverage lawyers coming to terms with the impact of two landscape-changing decisions from New York's highest court, colloquially referred to as Viking Pump and Keyspan. These cases addressed the proper allocation scheme and methodology applicable to "long-tail" liabilities such as environmental or asbestos claims. Specifically, the decisions mandated whether all sums or pro rata allocation applies based on the relevant policy language at issue, and how those allocation schemes should be applied in practice under the specific facts of those cases....

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