Calif. Court Shows Insurers How To Duck Policy-Stacking Rule

Law360, New York (April 9, 2013, 9:53 PM EDT) -- A California appeals court found Monday that Kaiser Cement & Gypsum Corp.'s primary policies could not be stacked to cover long-tail asbestos claims, a ruling that saves Kaiser from paying multiple deductibles but also reveals a way for insurers to sidestep the state Supreme Court's landmark decision in California v. Continental Insurance.

The California high court had directed the intermediate appeals court to revisit its ruling in Kaiser's asbestos coverage fight in light of the Continental decision, which let policyholders "stack" policies to maximize coverage for...
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