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At a time when insurance liability for catastrophic damages is very much in the forefront due to the Sept. 11 attacks, New York's highest court Tuesday rejected a reinsurance recovery theory that would have entitled an insurer to lump together as a single loss the $212 million it paid to cover environmental contaminations at nearly 200 distinct sites. The ruling is a significant addition to a scarce body of law on reinsurance treaties.
October 16, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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