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18-Oct-2017 21:34

K2 obtained a default judgment and an assignment of rights from the principal, and it then sued American Guarantee for breach of contract. " If company must indemnify its insured for the resulting judgment, even if policy exclusions would otherwise have negated the duty to indemnify. Rather, the insurer has two options: (1) defend the suit under a reservation of rights or (2) seek a declaratory judgment that there is no coverage. A subcontractor's employee sued the general contractor and subcontractor for negligence after falling and injuring himself. The Court of Appeals granted the motion without comment and scheduled reargument for January of 2014.The trial court granted judgment in favor of K2; the Appellate Division affirmed in full. means what it says: an insurance company that has disclaimed its duty to defend "may litigate only the validity of its disclaimer . This rule will give insurers an incentive to defend the cases they are bound by law to defend, and thus to give insureds the full benefit of their bargain. If the insurer fails to take either of these steps and is later found to have wrongfully denied coverage, the insurer is estopped from raising policy defenses to coverage. The subcontractor's commercial general liability insurance company denied coverage and refused to defend the contractor. If paying defense costs is the only consequence an insurance company faces for breaching its duty to defend the insured, an insurance company has a financial incentive to "kick the can down the road." The policyholder is left to defend itself in the underlying action, while simultaneously and separately having to pursue legal recourse against its insurance company.AIG has filed a notice of appeal in the California Court of Appeal, the first step in AIG's planned challenge to Judge Cahill's decision.AIG also will file objections to Golden Eagle's rehabilitation plan at a scheduled July 8 hearing, according to Roxani Gillespie, AIG's outside counsel with Buchalter, Nemer, Fields & Younger in San Francisco.The plaintiff, K2 Investment Group, soon discovered the mortgages were not recorded, which prejudiced its rights as a creditor when the corporation defaulted and entered bankruptcy. Among the claims asserted by K2 was a cause of action for legal malpractice against one of the principals, an attorney, who had also been responsible for drafting and recording K2's mortgages. 1986).) The court determined that American Southern had a duty to defend its insured, and awarded the contractor the full amount of its settlement with the employee as well as attorney's fees and costs. immediately caught the attention of the insurance industry.

It was his decision," he said during a telephone press conference that followed last week's announcement.Based in New York City, the firm also has offices in Ventura, CA, Stamford, CT, Washington, DC, Newark, NJ and Philadelphia, PA. Wolff is a shareholder in Anderson Kill's New York office. Wolff's practice concentrates in construction litigation, insurance recovery, and the nexus between the two, as well as in complex commercial litigation. Reed is an attorney in the firm's Ventura, CA, office. Reed's practice concentrates in corporate and commercial litigation and insurance recovery, exclusively on behalf of policyholders.Anderson Kill practices law in the areas of Insurance Recovery, Commercial Litigation, Environmental Law, Estate, Trusts and Tax Services, Corporate and Securities, Antitrust, Bankruptcy, Real Estate and Construction, Public Law, Government Affairs, Anti-Counterfeiting, Employment and Labor Law, Captives, Intellectual Property, Corporate Tax and Health Reform.However, the new Liberty Mutual bid added the settlement agreement in which Mr.