MORRIS SHEPPARD ARNOLD, Circuit Judge.
Lonnie Kent Wildrick sued North River Insurance Company in Iowa state court in 1992, claiming that North River breached its contract by withdrawing its defense of Phillips, P.C., a professional corporation earlier sued by Mr. Wildrick for negligence in the performance of accounting services. Mr. Wildrick asserted that claim as both a third-party beneficiary of Phillips's professional liability insurance policy and as Phillips...
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