Law360 | June.13.2014
Insurance partner David Klein discussed the impact of the recent New York Court of Appeals ruling in K2 Investment Group LLC et al. v. American Guarantee & Liability Insurance Co. in a Law360 article on the major insurance rulings in 2014 to date. The K2 ruling reversed an earlier holding that an insurance company that violates its duty to cover defense costs could not hold up policy exclusions to challenge its duty to indemnify policyholders. Mr. Klein noted that insurers were breathing a sigh of relief, as the earlier ruling would have introduced a profound change in New York law.