Are your clients ready for California's new insurance rules?

A commentary on Fox Paine & Co. v. Twin City Fire Insurance Co. says the California Supreme Court clarified that policyholders need not exhaust all underlying coverage before suing excess insurers. The case involved Fox Paine, a private equity firm that alleged three excess insurers failed to reimburse covered litigation expenses. The article says the ruling is a pleading decision and does not itself establish that any excess carrier owes coverage.