Judicial opinions that purport to construe “the policy as a whole” are often bad news for insurers, but two recent decisions used that analysis to defeat plaintiffs with novel arguments for making their excess insurers liable for losses within the primary layer. Intel Corp. v. American Guarantee & Liability Insurance Co., No. 692, 2011 (Del. Sept. 7, 2012), arose out of antitrust litigation against the chip manufacturer, in which Intel paid more than $50 million ... Keep Reading »
Allocation
Excess Policy Covers Liability for Occurrence Continuing After the Policy Period Ends
The Second Circuit has held that property damage occurring after the term of an excess liability policy may be included in the calculation of whether damages from a single occurrence reach the policy’s attachment point. In Olin Corp. v. American Home Assurance Co., 11-4055-cv (2d Cir. Dec. 19, 2012), an insured manufacturer of industrial chemicals filed suit against its excess liability insurers, claiming they owed a duty to indemnify it for its costs of remediating ... Keep Reading »