Excess Insurers Have No Duty To Drop Down In Place Of Insolvent Insurer, Judge Finds

Excess Insurers Have No Duty To Drop Down In Place Of Insolvent Insurer, Judge Finds

TULSA, Okla. - Excess insurers do not have a duty to "drop down" in place of an insolvent primary insurer and defend or indemnify an insured in an underlying asbestos lawsuit, an Oklahoma federal judge ruled Dec. 19 (Canal Insurance Co. v. Montello Inc., et al., No. 10-411, N.D. Okla.; 2013 U.S. Dist. LEXIS 178118).

Find full version on lexis Advance®
Access this news story on lexis.com®