New York State Bar Association CLE Webinar: Who Comes in Second?
Learn more about the concepts of vertical and horizontal policy limit exhaustion. When multiple policies are involved, the priority of coverage is relevant to determine whether vertical or horizontal policy limit exhaustion applies, as varied by jurisdictions.
Who Comes in Second? Vertical and Horizontal Policy Limit Exhaustion
Tracy Alan Saxe and Gunter A. Fernandez, Saxe Doernberger & Vita, P.C.
Agenda:
Risk Transfer Methods
– Upstream Party > Downstream Party:
– Contractual Indemnity
– Insurance
– Coverage Overlap
– Priority of Coverage
– Which Policy Responds Second?
– Priority of Coverage: State by State:
– General: states applying horizonal exhaustion
– General: States applying vertical exhaustion
Horizontal Exhaustion
– What is Horizontal Exhaustion?
– Case Study Example
– Important Notes about Horizontal Exhaustion
Vertical Exhaustion
– What is Vertical Exhaustion?
– Case Study Example
– Important Notes about Vertical Exhaustion
Concluding Remarks
– Horizontal/Vertical Exhaustion Checklist
– Sample Excess Policy Endorsement
– Questions