9th Circuit Vacates, Remands Ruling As To Exhaustion, Erosion Of Policy Limits

Mealey's (January 5, 2021, 10:22 AM EST) -- PASADENA, Calif. — The Ninth Circuit U.S. Court of Appeals on Dec. 18 vacated and remanded a lower federal court’s judgment regarding the issues of exhaustion and erosion of policy limits in a dispute over professional liability coverage for an underlying $17.5 million settlement of a malpractice lawsuit brought against one of Dickstein Shapiro’s former partners, finding that an excess insurer may contest the allocation of the settlement payment and the subsequent erosion of the policy limits....