Judge Says Co. Can 'Fill Gap' To Trigger Excess Policy

Law360, New York (March 12, 2012, 4:56 PM EDT) -- Maximus Inc.'s settlements with some of its insurers over $78 million in losses from a 2008 Texas public-health contract dispute settlement meet the exhaustion requirements of an excess insurance policy from Axis Reinsurance Co., a Virginia federal judge ruled Monday.

Maximus sued Axis last year after the insurer refused to indemnify it for claims from the 2008 settlement, and Axis filed a counterclaim seeking a declaration that its excess-coverage policy wasn't triggered by settlements with lower-tier carriers for less than their full policy amounts. The policy...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.