New York CM Report of Recent Decisions (2002v1)
2002 Volume 1
A summary of significant recent developments in the law focusing on substantive issues of litigation and featuring analysis and commentary on special points of interest.
Articles in this report
The New York Court of Appeals, addressing consolidated appeals, has held that losses from environmental injury claims involving decades of commercial activities and numerous sites cannot be aggregated as a single “disaster and/or casualty” for purposes of recovery under certain reinsurance treaties. Travelers Cas. & Surety Co. v. Certain Underwriters at Lloyds of London, 734 N.Y.S.2d 531 (N.Y.). The high court further found that the “follow the fortunes” clauses within the reinsurance treaties could not be used to override the definition of a covered “loss” within the treaties themselves.
