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Tuesday

Overview of the major coverage issues addressed in the recently approved ALI Restatement on liability insurance, which took almost a decade to finalize involving significant drafts and revisions to complete based on input from both the carrier and policyholder bars.

Objectives:

  • Gain an understanding of the process by which Restatements are created and of the common misconceptions with respect to how Restatements relate to “common law” or "majority" rules.
  • Trace the twists and turns wherein the American Law Institute ultimately adopted its own version of the “plain meaning” rule for interpreting liability insurance policies.
  • Understand the Restatement’s framework for analyzing when affirmative misstatements or omissions may void coverage based on principles of misrepresentation.    
  • What role does this Restatement contemplate for excess insurers and will primary insolvencies or “exhaustion by settlement” trigger excess obligations?
  • What is the scope of contemplated coverage for injuries resulting from intentional acts and do principles of public policy preclude coverage for punitive damages?
  • How will long-tail and mass tort claims be treated under this Restatement, including the crucial issues of trigger of coverage, allocation, known loss and numbers of “occurrences.”