Client Alert: The New Restatement of the Law, Liability Insurance
The American Law Institute has now issued its first Restatement of the Law, Liability Insurance. The Restatement, a culmination of a ten-year effort, addresses many key insurance issues, providing guidance to courts, insureds, and practitioners. As is typical with Restatements, much of this Restatement discusses the majority view on important issues. However, as Restatements typically do, this Restatement also provides insightful guidance on many issues where the law is unsettled, with commentary on what the law should be. The Restatement, already the subject of some controversy, likely will play an important role in the future direction of insurance law. In this client alert, Kirk Pasich provides an overview of the Restatement and discusses ten of its key principles.