Settling For Less May Leave Excess Insurers Off The Hook

Law360, New York (June 20, 2012, 1:17 PM EDT) -- Keeping up with insurance coverage law can be exhausting — especially when dealing with the question of whether a settlement by a lower-layer insurer properly exhausts the coverage necessary to trigger the higher-layer policies.

On June 12, 2012, the New York Supreme Court, Appellate Division, in J.P. Morgan Chase & Co., et al., v. Indian Harbor Ins. Co., et al., applying Illinois law, became the latest in the line of cases concluding that a policy settlement for less than the policy limits may mean that all...
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