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Simple English definitions for legal terms
triple trigger
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A quick definition of triple trigger:
A triple trigger is a type of insurance coverage that requires all insurers to cover a loss from the day a person is first exposed to a harmful product, like asbestos, until the date of diagnosis or death, whichever comes first. This means that all insurers who provided coverage during this time period must share the responsibility of covering the loss. It is also known as continuous trigger and is different from other types of triggers, such as actual-injury trigger and manifestation theory.
A more thorough explanation:
Definition: Triple trigger is a theory of insurance coverage that states that all insurers who provided coverage for a risk from the day a claimant is first exposed to an injury-producing product, such as asbestos, until the date of diagnosis or death, whichever occurs first, must cover the loss.
This means that if someone was exposed to asbestos while working for a company and later develops an illness related to that exposure, all insurance companies that provided coverage during the time of exposure must contribute to covering the costs of the illness.
For example, if a person worked for a company from 1980 to 1990 and was exposed to asbestos during that time, and then was diagnosed with mesothelioma in 2020, all insurance companies that provided coverage for the company during the years 1980 to 2020 must contribute to covering the costs of the illness.
The triple trigger theory is also known as the continuous trigger theory and is different from other theories of insurance coverage, such as the actual-injury trigger and the manifestation theory.