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Fifth Circuit Holds Settlement With Primary Insurer Did Not Result In Exhaustion

By Brian Margolies, Partner, Traub Lieberman Straus & Shrewsberry LLP In Citigroup Inc. v. Federal Ins. Co ., 2011 U.S. App. LEXIS 16316 (5 th Cir. Aug. 8, 2011 ) , the United States Court of Appeals for the Fifth Circuit, applying Texas law, considered whether a settlement between an insured and...

Settlements With Underlying Layers Satisfy Exhaustion Conditions in Excess Policies

In his commentary, "Settlements With Underlying Layers Satisfy Exhaustion Conditions in Excess Policies," Michael T. Sharkey of Perkins Coie LLP analyzes the recent decision of Quellos Group LLC v. Federal Insurance Co. , No. 68478-7-1, 2013 Wash. App. LEXIS 2626 (Nov. 12, 2013) [ enhanced...