STORY FROM: Reinsurance & Arbitration
Utica Says Recent Del. Ruling Supports Reinsurance Coverage of Underlying Defense Costs
September 22, 2016
ALBANY, N.Y. - Utica Mutual Insurance Co. has cited to a recent Delaware ruling which purportedly supports its position that its reinsurer is obligated to reimburse it for defense costs incurred by its insured in underlying asbestos litigation.
In a Sept. 19 brief, Utica pointed to the U.S. District Court for the Northern District of New York to In re Viking Pump Inc. and Warren Pumps LLC Insurance Appeals, in which Delaware’s highest court rejected excess insurers’ position that “ultimate net loss” and “assistance and cooperation” provisions relieve them of their obligation to pay for defense costs once their coverage ...
Associated Law Firms
Hunton & Williams
Rubin Fiorella & Friedman
Simpson Thacher & Bartlett