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Law360 Quotes Harry Lee on Pro Rata Allocation

November 21, 2012

Law360 quoted Steptoe partner Harry Lee, head of the firm’s Insurance/Reinsurance Practice Group, in an article titled “Pro Rata Ruling Could Make it to Mo. High Court.”  The article, published on November 19, discusses a Missouri state court ruling, which for the first time has held that long-term environmental losses should be divvied among insurers based on the amount of time they covered the risk.  According to Law360,  this ruling is expected to make its way to the state high court, which has yet to weigh in on the high-stakes and hard-fought allocation debate.

Mr. Lee says that with Missouri lately handling major bankruptcies involving coverage questions on asbestos and environmental claims, the stakes are high.

"For the Missouri Supreme Court to eventually have the chance to definitely decide the allocation rules in the context of the environmental case is a good thing,” Mr. Lee says.  “What Missouri says these days can be influential.”

The full article can be read at Law360.