Policyholder Pulse
For nearly 100 years, the independent organization The American Law Institute has produced influential “Restatements” of U.S. common law in a wide range of areas, intended as authoritative summaries of the main currents of the law. But they’ve never tackled insurance law—until now. Restatement of the Law, Liability Insurance (RLLI), approved by the ALI in May 2018, marks several important firsts. It’s the first Restatement on insurance—a particularly complex and nuanced area of the law, as each state highly regulates it under its own sets of statutes and precedents. It’s also the first Restatement that focuses on a particular industry—insurance—as opposed to a generalized legal area such as agency, torts or property. Likely because of this, the drafting of the RLLI was not without controversy and it’s unclear how it will be received.
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The ALI’s Restatement of the Law, Liability Insurance Faces Industry and Legislative Opposition
