New York Court Finds No Coverage Owed for Asbestos Losses Because Insured Failed to Prove Material Terms
By EsqSocial Corporation 01/02/21
In the long-tail insurance context, it is not unusual to have issues arise addressing “lost” or “missing” policies. In an opinion issued on January 22, 2021, a New York court ruled that an insurer did not owe coverage to its insured for underlying asbestos claims because the insured had failed to establish the material terms of a “lost” policy under which it sought coverage for the underlying claims. The lawsuit, Cosmopolitan Shipping Company, Inc. v. Continental Insurance Company, arose out of...
By: White and Williams LLP