Excess Insurer: Court Erred In Ruling Settlement Costs Constitute Ultimate Net Loss

(May 25, 2016, 9:12 AM EDT) -- CINCINNATI — An excess insurer argued in the Sixth Circuit U.S. Court of Appeals that it is not liable for direct product liability settlements because it did not consent to them as required by the unambiguous policy language (Stryker Corporation, et al v. National Union Fire Insurance, et al., Nos. 15-1657 and 15-1664, 6th Cir.).

Stryker Corp. sought coverage for sums paid to defend and settle claims asserted by patients receiving implantation of expired Duracon Uni-Knees (DUK). In a previous case, the U.S. District Court for...
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