English Justice: Reinsurance Triggers After Exhaustion Of Underlying Insurance

LONDON — An English justice recently found for a pair of reinsurers and held that a reinsurance contract only covers underlying policies after those policies have been exhausted ( Teal Assurance Company Limited v. W R. Berkley Insurance (Europe) Limited , No. 2010 FOLIO 1045, England and Wales...

Reed Smith LLP Policyholder Alert: Zeig Reconsidered?

By John Berringer and Michael DiCanio, Attorneys, Reed Smith LLP While it has long been the general rule in New York and other jurisdictions that a policyholder's settlement with a primary insurer for less than full policy limits can nevertheless trigger excess coverage, as long as the loss or...