Ch. 11 Ruling Curbs Policyholders' Use Of Excess Coverage

By Jeff Sistrunk (June 9, 2016, 11:05 PM EDT) -- A New York bankruptcy court's recent ruling that two excess insurers don't have to cover asbestos claims against Rapid-American Corp. until the limits of underlying policies have actually been paid further defangs a 1928 precedent that policyholders have used to tap excess coverage to pay losses not covered by lower-level carriers, experts say....

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