HNRK Coverage Corner

In an article for Chambers’ 2024 Insurance and Reinsurance Global Practice Guide, insurance recovery partners Bradley Nash, Joshua Blosveren, and Dorothea Regal discuss some of the high-stakes insurance coverage disputes that came out of New York last year, and the resulting insurance litigation trends the industry should have an eye on, including:

• The allocation of defense and indemnity coverage for long-tail claims;
• An insured’s right to recover attorneys’ fees incurred in insurance coverage litigation;
• The impact of the named insured’s bankruptcy on the ...

On January 8, 2024, Justice Frank of the New York County Supreme Court issued a decision in Endurance Am. Ins. Co. v. StoneX Commodity Solutions, LLC, Index No. 653234/2022, granting summary judgment as to liability to StoneX Commodity Solutions, a trader of physical commodities, in an insurance coverage dispute, arising from a loss of more than 500,000 bushels of soybeans as a result of a warehouse owner’s fraud.

The court held that StoneX established an actual loss during the relevant policy period, declaring there is insurance coverage to cover the loss of 502,315 bushels of ...