Insured Appeals Ruling In Excess Insurers’ Favor In $1.5B Asbestos Coverage Suit

Mealey's (October 23, 2019, 9:49 AM EDT) -- SAN FRANCISCO — An insured recently asked a California appeals court to reverse a lower court’s ruling in favor of excess insurers in its lawsuit seeking coverage for settlements paid to underlying claimants who sued the insured for asbestos-related bodily injury, arguing that the lower court misinterpreted the insurance policies’ “other insurance” clauses in concluding that horizontal exhaustion applies notwithstanding the attachment points in the excess insurance policies “that envision vertical exhaustion” (SantaFe Braun, Inc. v. Insurance Company of North America, No. A151428, Calif. App., 1st Dist.)....