SDNY Gives Reinsurers' Late Notice Defense More Bite

Law360, New York (August 29, 2013, 4:46 PM EDT) -- A New York federal court recently predicted that California would strictly punish insurers that keep reinsurers in the dark about a claim, sending a warning to carriers to patch holes in their notification procedures at a time when reinsurers are already aggressively pursuing the late-notice defense.

Courts in New York, California and other states — with the exception of Illinois and a few others — follow a rule requiring reinsurers to show they were substantially prejudiced by an insurer's late notice of a claim before they...
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