Excess Underwriters at Lloyd’s, London and Certain Companies Subscribing Severally But Not Jointly to Policy No…

Summary

The Texas Supreme Court affirmed the appellate court's judgment, holding that the excess underwriters are not entitled to reimbursement for the settlement payment because Texas law requires clear and unequivocal consent, which was not present, and Louisiana law does not differ. The opinion also notes that the dissenting justices would have allowed reimbursement under contract or equitable principles.