Excess Insurers Gain Another Ally On Exhaustion Question

Excess Insurers Gain Another Ally On Exhaustion Question

A Washington state appeals court on Tuesday slammed the door to excess coverage for Quellos Group LLC's $240 million tax fraud scheme because an underlying insurer did not pay full policy limits, joining a growing number of courts to strictly interpret exhaustion language despite policyholders' insistence that these terms violate public policy.

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