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Exhaust the primary insurance cover before claiming under excess policies

Photo of Patrick Bracher (ZA)
By Patrick Bracher (ZA) on April 25, 2014

A US company with a primary professional liability insurer and a $10 million policy limit settled with the primary insurer for about $5 million. It then paid further losses exceeding the $10 million limit and unsuccessfully sought to trigger two excess policies for claims of the tens of millions of dollars in settlements and legal…

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Norton Rose Fulbright’s financial institutions team provides straightforward legal updates. Our lawyers offer local insights with an international perspective recognised worldwide. This blog focuses on the South African market and is about sharing knowledge with you. Blog posts are not legal advice.

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