Other Insurance Archives - Page 2 of 2 - The Insurance & Reinsurance Report

September 17, 2014 Other Insurance

“Other Insurance” Language Irrelevant to Priority of Coverage Where Excess Policy’s Coverage Has Not Been Triggered

This declaratory judgment action arises out of a dispute between two excess insurance providers, and stems from a settlement in an underlying personal injury claim. The plaintiff, GEICO, which contributed to the settlement, sought reimbursement from defendants Ohio Casualty Group, Ohio Casualty Insurance Company and Liberty Mutual Insurance Company, which did not participate in the settlement. The other policy provided that it was excess above $10 million, but did not specify a specific policy which it was excess to.

GEICO argued that the defendants’ policy’s …

September 6, 2014 Other Insurance

Insured Settles for Less from Insurers, and Excess Coverage Still Must Indemnify: “Ultimate Net Loss Liability” Could Apply to Settlement Amounts with Lower Level Insurers

On Friday, August 29, 2014, the Eleventh Court of Appeals in Texas reversed the trial court’s summary judgment order finding that an excess insurance policy was triggered though the underlying policies had not exhausted their full coverage limit.

Plantation Pipe Line Co. operates pipelines transporting petroleum throughout the southern and eastern United States. In 1990, a leak was found in North Carolina, and Plantation was required to remediate the site. Plantation spent almost $12 million to clean and restore the area. Plantation sought defense and …