What the NY Child Victims Act Means for Insurance in 2020
Knowledge

What the NY Child Victims Act Means for Insurance in 2020

Ashlyn M. Capote and Adam R. Durst, associates in the firm’s Global Insurance Services practice, wrote an article for Law360 discussing the Child Victims Act’s impact on the insurance market in relation to future litigation.

In “What the NY Child Victims Act Means for Insurance in 2020,” Ashlyn and Adam talk about how the legislation will keep individuals and organizations accountable, the significance of the one-year window of time, and the climbing number of lawsuits. They also share that the majority of lawsuits are against religious organizations, school districts, and civic organizations.

“Aside from the impact the window will have on insurers’ reserves, underwriters will have to reform their practices to adjust for the 55-year window in which civil claims may be brought. This significant increase in risk will likely result in an increase in premiums for these types of organizations, or a reduction in the amount of coverage available, whether through exclusionary provisions (e.g., sexual abuse/molestation exclusions) or the limitation in the amount of coverage available (e.g., sublimits).”

 

Read the full article here:

What the NY Child Victims Act Means For Insurance In 2020,Law360, January 1, 2020

More about Goldberg Segalla’s Ashlyn M. Capote and Adam R. Durst:

Ashlyn M. Capote advises insurers on complex coverage matters and handles insurance coverage litigation throughout New York. She regularly counsels clients on their obligations to provide coverage to insureds under their policies and their ability to seek additional coverages on behalf of their insureds, and she assists with all aspects of coverage litigation, from pleadings and discovery to mediation and settlement negotiation.

Adam R. Durst focuses his practice on insurance coverage law and coverage litigation in state and federal courts. His practice involves counseling insurers and policyholders on their respective coverage obligations or entitlements under first-party and liability policies, including occurrence-based and claims-made coverages, and handling complex coverage litigation.