2nd Circuit Vacates Reinsurer’s Judgment On Liability Cap For Asbestos Litigation Costs

Mealey's (May 10, 2018, 11:24 AM EDT) -- NEW YORK — In a coverage dispute over asbestos litigation costs, the Second Circuit U.S. Court of Appeals on May 9 vacated a lower court’s entry of summary judgment for a reinsurer and remanded for reconsideration of the reinsurance contracts applying a New York high court ruling on the per-occurrence liability cap (Global Reinsurance Corporation of America v. Century Indemnity Co., No. 15-2164, 2nd Cir., 2018 U.S. App. LEXIS 12121)....