Excess Policy Win Gives Calif. Insureds Hope For The Future
By Michael Fehner (April 28, 2020, 5:45 PM EDT) -- In its April 6 decision in Montrose Chemical Corp. v. Superior Court of Los Angeles, the California Supreme Court gave insureds facing so-called long-tail liabilities — such as environmental contamination or asbestos bodily injuries, which can last for decades and implicate multiple insurance policy periods — a very valuable present.
In an opinion pragmatically designed to lessen policyholders' practical obstacles to securing indemnification, and allowing the insured immediate access to the insurance it purchased, the court rejected the insurers' contention that the insured had to exhaust every policy at a particular layer of coverage in order to proceed to the next...
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