Seventh Circuit finds excess policy ambiguous, yet uses extrinsic evidence to rule in insurer's favor (Ep. 32)

Michael discusses the Seventh Circuit's recent decision in Lexington Insurance Company v. RLI Insurance Company, in which the court find RLI's policy ambiguous yet used extrinsic evidence to rule in RLI's favor in this complex excess policy dispute. You can read the court's full opinion here (http://media.ca7.uscourts.gov/cgi-bin/rssExec.pl?Submit=Display&Path=Y2020/D01-27/C:19-1426:J:Hamilton:aut:T:fnOp:N:2464901:S:0).