{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"3M Must Engage in a \u201cPointless Formality\u201d to Satisfy Retention: The Importance of Avoiding Non-Market Language in CGL Policies","description":"Today on \u201cDon\u2019t Take No for an Answer,\u201d Eric Jesse and Alexander B. Corson discuss Aearo Technologies v. ACE American, in which a Delaware court held 3M could not credit $372 million it paid in defense costs against self-insured retentions in legacy CGL policies issued to its subsidiary, Aero Technologies, before its aquisition. The hosts discuss the implications of non-market language included in those policies \u2013 which specified that the self-insured retention could not be satisfied by payments made on Aearo\u2019s behalf \u2013 and steps the insured might have taken to avoid this hyper-technical coverage defense that seemingly ignored the reality of corporate structuring and would have required 3M to engage in the \u201cpointless formality\u201d of transferring money to an Aearo bank account in order to satisfy its self-insured retentions. Speakers: Eric Jesse, Partner, Insurance Recovery Alexander B. Corson, Associate, Insurance Recovery ","author_name":"Lowenstein Sandler's Insurance Recovery Podcast: Don\u2019t Take No For An Answer","author_url":"https:\/\/www.lowenstein.com\/podcasts","html":"