Excess Insurers Have No Duty To Drop Down In Place Of Insolvent Insurer, Panel Says
(November 30, 2015, 11:58 AM EST) -- DENVER — The 10th Circuit U.S .Court of Appeals on Nov. 27 affirmed the dismissal of an asbestos coverage suit after determining that excess insurers do not have a duty to “drop down” in place of an insolvent primary insurer and defend or indemnify the insured (Canal Insurance Co. v. Montello Inc., et al., No. 14-5039, 10th Cir.; 2015 U.S. App. LEXIS 20625).