INSURANCE: Reasonableness of $29 million stipulated judgment for breach of duty to defend improperly considered solely from perspective of uninsured Defendants, remanded for 2nd hearing and objective consideration of merits of underlying case and value to a prudent uninsured of confessing judgment… ESOP payouts not required to be deducted from $29 million but may be considered in reasonableness of settlement… Plaintiffs will be entitled to postjudgment interest if settlement approved following 2nd hearing, but not to prejudgment interest… Townsend reversed, affirmed. [Read more…]