Northrop's Win Curbs Excess Insurers' Settlement Challenges
By Jeff Sistrunk ( September 15, 2020, 8:40 PM EDT) -- The Ninth Circuit sharply limited excess insurers' ability to second-guess lower-level carriers' payment decisions on Monday when it rejected Axis Reinsurance Co.'s argument that it overpaid on Northrop Grumman Corp.'s settlement of a class action suit because the defense giant's other insurers prematurely exhausted their policies....
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