Insurers Were Not Required to Disclaim Coverage on Basis of Late Notice ‘As Soon As Reasonably Possible,’ N.Y. High Court Rules

NEW YORK — The highest court in New York has ruled that two excess insurers were not required by New York Insurance Law § 3420 (d) (2) to disclaim coverage “as soon as reasonably possible” after discovering that their insured gave untimely notice of environmental claims under the policies.

On June 10, the New York Court of Appeals explained that § 3420 (d) (2) only applies to insurance cases involving death and bodily injury claims arising out of a New York accident and brought under a New York liability policy. It must therefore be determined whether, under common-law principles, triable …