Martin Resource Mgmt Corp. v. Zurich American Insu

EDWARD C. PRADO, Circuit Judge:

This case centers on the interpretation of an excess-insurance-policy provision designed to cover losses exceeding the limits of a primary-insurance policy. Plaintiff-Appellant Martin Resource Management Corporation (“MRMC”) purchased excess insurance from Defendant-Appellee AXIS Insurance Company (“AXIS”). After suffering losses in a state lawsuit, MRMC sued in federal court to recover under its primary- and excess-insurance policies. MRMC eventually settled with its primary insurer for less than the liability limit in the primary policy. AXIS moved for summary…