Protecting Insurers And Leaving Policyholders In The Dark
July 26, 2012, 1:40 PM EDT
Law360, New York (July 26, 2012, 1:40 PM EDT) -- In its recent OneBeacon Am. Ins. Co. v. Am. Motorists Ins. Co., 679 F.3d 456 (6th Cir. 2012), decision, the U.S. Sixth Circuit Court of Appeals predicts how the Ohio Supreme Court would address two unresolved questions of Ohio insurance law regarding the exhaustion of insurance policies through settlements and the effect of such settlements on other insurers’ equitable contribution rights.
Unfortunately, the court passed up a good opportunity to determine the impact that such settlements have on the damages available to a policyholder against nonsettling...