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Who Comes in Second? Vertical and Horizontal Policy Limit Exhaustion

Who Comes in Second? Vertical and Horizontal Policy Limit Exhaustion

Who Comes in Second? Vertical and Horizontal Policy Limit Exhaustion_675

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.

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 

Presenters:

Tracy Saxe and Gunter Fernandez, Saxe Doernberger & Vita, P.C

This program is sponsored by the Torts, Insurance and Compensation Law Section 

If you are unable to register for this program online, please reach out to the NYSBA Member Resource Center at 1-800-582-2452 or at [email protected]

Start Date:
  • September 9, 2024
Start Time:
  • 12:00 PM
End Time:
  • 1:00 PM
Areas Of Professional Practice Credit(s):
  • 1.0
Total Credit(s):
  • 1.0
Region:
  • Virtual Participation
Format:
  • Webinar
Product Code:
  • 0PC41
Section Member Price: $40.00
NYSBA Member Price: $50.00 Join (or renew) for special member pricing
Non-Member Price: $100.00
Sponsoring Committee Group
  • Torts, Insurance, & Compensation Law Section
  • Committee on Continuing Legal Education