Reasoning that an excess insurer’s risk is realized once an insured is involved in an event resulting in injury, as opposed to when a jury’s subsequent verdict triggers the need for excess coverage, the state Supreme Court has affirmed 5-1 a nearly $3.5 million verdict in a case involving a complex assignment of policy interest.
In reaching its decision in Egger v. Gulf Insurance Co., PICS Case No. 06-1162 (Pa. Aug. 23, 2006) Newman, J.; Cappy, C.J. concurring; Saylor, J. dissenting (25 pages), the majority stressed that under Pennsylvania law, an assignee may sue an insurer even if the policy signed by the original insured contains an anti-assignment provision.
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