N.Y. Court Takes Contrary Position on Insurers' Right to Recoup Defense Costs
N.Y. Court Takes Contrary Position on Insurers’ Right to Recoup Defense Costs By Eric Stern and Andrew Lipkowitz | January 21, 2021 It has long been understood that under New York law, an insurance company may recoup defense costs paid on behalf of an insured once it has been ultimately determined that there was no coverage in connection with the underlying action, provided that the insurer reserved its rights to seek such reimbursement. Multiple New York courts at both the trial and Appellate Division levels (New York’s intermediate appellate court), h...
Source: insurancejournal.com