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Ninth Circuit Rejects “Improper Erosion” Argument, Rejects Excess Carrier’s Refusal to Acknowledge Exhaustion of Underlying Policies

Last month, the U.S. Court of Appeals for the Ninth Circuit awarded Pillsbury client Northrop Grumman a significant appellate victory, reversing an adverse decision from the U.S. District Court for the Central District of California on a question of first impression within the circuit. The court’s decision in AXIS Reinsurance…