PRO RATA REJECTED: NEW YORK HOLDS PRIOR INSURANCE AND NON-CUMULATION CLAUSES REQUIRE ALL SUMS ALLOCATION AND VERTICAL EXHAUSTION
The New York Court of Appeals has now ruled that all sums allocation and vertical exhaustion apply to continuous loss where the implicated policies contain Prior Insurance and Non-Cumulation clauses. In re Viking Pump, Inc. et al., 2016 N.Y. Slip. Op. 03413 (May 3, 2016).