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Substitution of 'The Sums' or 'Those Sums' for 'All Sums' Does Not Alter the Scope of Coverage
One of the major issues for the past quarter century in the litigation of coverage disputes relating to liability for alleged long-term or latent injury or damage (such as those arising from asbestos bodily injury, environmental property damage, or other mass torts) has been “allocation.” In particular, insurance companies and policyholders have disputed the scope of coverage provided by an “occurrence”-based general liability policy triggered by injury or damage during its policy period, when the same occurrence also caused harm in other policy periods.
Insurance companies typically seek to have the loss prorated over time (under one of a variety of formulae put forth in various cases by the insurance companies), and to impose on the policyholder that portion of the loss that is thereby assigned to periods where the policyholder had no applicable insurance, or where there are other problems with coverage (eg, the carriers for that period are insolvent). See, e.g., N. States Power Co. v. Fid. & Cas. Co., 523 N.W.2d 657, 662-63 (Minn. 1994) (prorating by time on the risk); Owens-Illinois, Inc. v. United Ins. Co., 650 A.2d 974, 994-95 (N.J. 1994) (prorating by time on the risk and policy limits); Uniroyal, Inc. v. Home Ins. Co., 707 F. Supp. 1368, 1393-94 (E.D.N.Y. 1988) (prorating by measure of exposure during policy period); Conductron Corp. v. Am. Employers Ins. Co., Nos. 93-E-149, 93-C-599, slip op. at 19-22 (N.H. Super. Ct. Mar. 4, 1997) (prorating based on a detailed formula); Consol. Edison Co. of N.Y., Inc. v. Allstate Ins. Co., 774 N.E.2d 687, 695 (N.Y. 2002) (discussing different proration formulae invented by courts adopting this approach).
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.