NY High Court Says No Set Rule On Reinsurer's Liability Cap
By Jeff Sistrunk ( December 14, 2017, 10:11 PM EST) -- New York's highest court held Thursday that one of its prior rulings didn't create a general rule that a reinsurance contract's total liability cap encompasses both indemnity and defense costs incurred by an insurer, resolving a query from the Second Circuit in Century Indemnity Co.'s bid for reinsurance coverage of costs paid to defend Caterpillar in asbestos litigation....
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