( July 28, 2026, 2:51 PM EDT) -- SAN FRANCISCO —An insured may state viable declaratory relief claims under excess liability insurance policies even if all of the underlying coverage has not yet been exhausted, the California Supreme Court held on July 27, reversing an appellate court’s ruling in favor of two excess insurers in a private equity management firm insured’s declaratory relief and bad faith lawsuit and remanding the professional liability coverage dispute to the appellate court....