Feb 21, 2014

The Storm Has Passed For NY Insurance Law

The Court of Appeals found that its prior K2 decision conflicted with its own precedent, and that there was no rational reason for departing from a well-established rule of New York insurance law. The court therefore reversed its holding from last year and reaffirmed the principle that an insurer that makes a mistake and wrongfully denies a defense is not precluded from asserting its defenses to coverage for indemnity.

Read more here: The Storm Has Passed For NY Insurance Law, Law360 (Feb. 21, 2014).

By, Charles A. Booth