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.
- 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.”