More than two years after Superstorm Sandy battered the East Coast, New York courts are continuing to grapple with a slew of insurance coverage issues tied to the storm.
Those lawsuits and other high-stakes battles, including JPMorgan Securities Inc.'s bid for $200 million in coverage for regulatory settlements and an attorney-client privilege dispute with potential implications for professional liability coverage actions, have lawyers' attention. Here, experts discuss five issues they're keeping a close eye on.
William G. Passannante discusses the recent state appellate panel decision in this matter:
"That comes back to the general New York rule that, if an insurer is going to refuse coverage by an exclusion, it has to do so clearly and unmistakably," said Anderson Kill PC shareholder William G. Passannante.
Had that exclusion applied, there would have been no coverage, at least for the SEC settlement and the NYSE stipulation, Passannante noted.