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).

(Unpublished opinion available. Document #03-151202-001Z.)

A number of lawsuits have been filed by individuals against Montello Inc., a distributor of products used in...
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