|  | | 2012 News and Press Releases | | |
HEADLINE NEWS:
NY Appellate Court: Excess Insurers Off the Hook Where It Can't Be Determined if Underlying Insurance Exhausted
Kevin LaCroix
The D & O Diary. June 14, 2012
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EXCERPT: In the latest of what is now a lengthening line of cases, on June 12, 2012, the New York Supreme Court, Appellate Division, First Department, applying Illinois law, ruled in a coverage case brought by JPMorgan Chase that owing to settlements by underlying carriers in a professional liability insurance program, excess insurers in the program have no payment obligation because conditions precedent to coverage under the excess carriers’ policies had not been met. |
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