New York High Court Finds No Set Rule On Reinsurer’s Liability Cap On Defense Costs

Mealey's (December 18, 2017, 1:36 PM EST) -- NEW YORK — In a coverage dispute over asbestos litigation costs, the New York Court of Appeals on Dec. 14 ruled that one of its previous rulings did not establish a general rule that a reinsurance contract’s total liability cap encompasses both indemnity and defense costs incurred by an insurer (Global Reinsurance Corporation of America v. Century Indemnity Co., No. CTQ-2016, 0005, N.Y. App., 2017 N.Y. LEXIS 3723)....