JENNIFER WALKER ELROD, Circuit Judge:
This case addresses whether an insurance policy that excludes coverage for an "obligation" incurred under "any workers' compensation law" bars coverage for a judgment that an employee recovers in a negligence action against a Texas employer that does not subscribe to the Texas workers' compensation system. Because the Texas Workers' Compensation Act ("TWCA") imposes no obligation on a nonsubscriber to compensate an employee for...
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