Reinsurer Argues To New York High Court For Cap Of Defense Costs In Asbestos Suit

Mealey's (July 19, 2017, 3:10 PM EDT) -- NEW YORK — Reinsurance certificates should be interpreted according to their plain language requiring “all reinsurance ‘subject to’ the amount of liability and subordinating the follow-the-form clause to the certificates’ specific terms,” a reinsurer argues in a brief filed June 27 in the New York Court of Appeals, saying that its liability for defending and indemnifying asbestos litigation is capped (Global Reinsurance Corporation of America v. Century Indemnity Co., No. CTQ-2016, 0005, N.Y. App.)....