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Risk and Recovery: Legal Insights for the Insured

Category Archives: Catastrophic Loss

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Excess Insurance Triggered Despite Policyholder’s Settlement with Primary Insurers for Less than Policy Limits

Posted in Catastrophic Loss, Excess Coverage

When faced with a catastrophic loss triggering multiple layers of coverage and recalcitrant insurers at the primary layer, a policyholder has strong incentives to settle with the first-layer carriers for less than the full limits of that layer, cover the “gap” out of its own pocket, and seek excess coverage from the insurers in the… Continue Reading