Fighting For 'Right' Of Reimbursement

Law360, New York (May 4, 2011, 12:54 PM EDT) -- Do insurers have a “right” to claw back defense costs if it turns out that a claim they defend is ultimately found not to be covered? Many insurers claim they do, but general liability policies typically have no express provisions allowing it.

Insurers nonetheless often accept their defense obligations subject to reservation of their rights to assert noncoverage and also purporting to reserve their alleged right to reimbursement. Courts, however, do not uniformly agree that insurers can claw back defense costs; indeed, a fair number hold...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.