Insurer To N.Y. High Court: Asbestos Defense Costs Are Not Held To Reinsurer’s Cap

Mealey's (April 24, 2017, 3:30 PM EDT) -- NEW YORK — A reinsurer must cover an insurer’s costs to defend an insured in asbestos litigation beyond its total liability cap because a prior New York decision does not compel a conclusion that the cap includes both indemnity and defense costs, the insurer argues in an April 14 appellant brief regarding a certified question to the New York Court of Appeals (Global Reinsurance Corporation of America, successor in interest Constitution Reinsurance Corp. v. Century Indemnity Co., successor interest to CCI Insurance Co., successor interest to Insurance Company of North America, No. CTQ-2016, 0005, N.Y. App.)....