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AICPA

Jack Sullivan Presents on Regional Symposium Examining the Recently Finalized ALI Restatement of the Law, Liability Insurance on Nov. 20


Jack Sullivan
On November 20, 2019, Jack Sullivan joined with other presenters for a symposium addressing issues presented by the recently finalized American Law Institute (ALI) Restatement of the Law, Liability Insurance. The program took place in Philadelphia, PA and was presented by the American Property Casualty Insurance Association (APCIA) and National Association of Mutual Insurance Companies (NAMIC). 

The symposium identified the Restatement’s differences from applicable law in targeted jurisdictions. It also reviewed important cases in the targeted states where the Restatement has been cited, as well as conflicts between existing state law and the Restatement’s provisions, including rules regarding:

  • Reservation of Rights
  • Duty to Make Reasonable Settlement Determinations
  • Misrepresentation and Rescission
  • Notice and Reporting Conditions
  • Allocation and Settlement Credits 

There was also a short discussion of legislative issues by outside counsel and members of trades’ respective staffs. Three of the targeted jurisdictions in this regional event -- Ohio, Michigan, and Kentucky -- have seen legislative responses to the Restatement. 

APCIA and NAMIC provided attendees with a comprehensive overview of the Restatement, specifically noting areas of concern for liability insurers.