ALI Approves Restatement of the Law of Liability InsuranceOn May 24, 2018 by Schnader in Finance
On May 22 the American Law Institute voted final approval for the Restatement of the Law of Liability Insurance (RLLI). This was eight years in the making (including 29 drafts) but now sets forth ALI’s positions on numerous important coverage issues. This invaluable resource included input from insurers and policyholders and sets forth the majority and minority positions in its comments. Insurance industry professionals and business leaders may want to pay special attention to issues where the RLLI may differ somewhat from prevalent legal precedent in their jurisdiction. See ALI’s announcement and read “5 Key Rules In The ALI’s Liability Insurance Guidelines” by Law360.