Law360 Quotes Harry Lee on Excess Liability Insurance Decision

June 12, 2013

Law360 quoted Steptoe partner Harry Lee, head of the firm’s Global Insurance/Reinsurance Practice Group, in an article titled “2nd Circ. Walls Off Favored Path To Early Excess Coverage.”  The article, published on June 10, discusses a 2nd Circuit ruling, which removed a precedent that policyholders had frequently used to argue that excess insurers should fill a coverage gap that’s created when a lower-level insurer pays less than its policy limit. 

Mr. Lee tells Law360 that the decision was significant because the 2nd Circuit is routinely followed when it comes to insurance law.  He also predicts that insurance carriers would rely on the decision moving forward but that policyholders would continue to press the issue.  "It doesn't mean policyholders won't run this up the state side, in efforts to see if they can get a contrary decision," Mr. Lee says.  "There's always room for argument and there always will be.” 

The full article can be read at Law360.