INSURANCE - The 7th Circuit found that the terms of the umbrella policies issued to BASF did not require the insurers to defend or indemnify BASF from claims that the company improperly marketed its synthetic thyroid drug. "While we recognize that umbrella insurance is designed to act as a safety-valve for deficiencies in primary insurance, that does not mean that umbrella insurance necessarily covers every risk under the sun," Judge Kanne wrote.
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