North Carolina Insurance Guaranty Ass'n v. Century Indemnity Co.

EAGLES, JUDGE.

Plaintiff-Association brings forth two assignments of error. After careful review, we affirm.

I

The first issue presented by plaintiff-Association is whether defendant-Century’s commercial umbrella policy must “drop down” and serve as primary insurance as a result of the insolvency of Long’s primary liability carrier (AMLIC). See Annotation, “Primary Insurer’s Solvency as Affecting Excess Insurer’s Liability,” 85 ALR 4th 729, 734 n.4 (1991) (“Drop down coverage occurs when an insurance carrier of a higher level of coverage is obligated to provide the coverage that the carrier of…