You might think that an excess insurer is bound by the settlement decision of the primary insurer, but a recent court case in Massachusetts suggests that an excess insurer is not bound by the primary insurerâ??s settlement decision. The case, Allmerica Financial Corporation et al v. Certain Underwriters at Lloydâ??s, was decided this month by the Massachusetts Supreme Judicial Court. (See here here for a summary, here for a copy of the decision, and here for a summary of the...
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