Grappling With Horizontal Exhaustion And Stacking

Law360, New York (August 24, 2011, 2:09 PM EDT) -- A recent decision by the California Court of Appeal for the Second District grappled with the concepts of “horizontal exhaustion” and “stacking” of policy limits in the context of an insured attempting to tap excess policies in a case involving continuous losses spanning multiple policy periods.

Kaiser Cement and Gypsum Corp. v. Insurance Co. of the State of Pennsylvania (filed June 3, 2011), involved an increasingly familiar factual scenario in which thousands of bodily injury claims were brought against Kaiser arising out of asbestos products manufacturing...
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