Insured brought claim against insurance agent for negligence in the selection of general liability coverage. Insured failed to timely notify liabilty underwriter of the claim assered against insured. The District Court held the insured’s failure to timely notify the liability underwriter of the claim, without reasonable excuse, relieved the underwriter of the obligation to indemnify even in the absence of prejudice to the underwriter. Since the insurance agent steps into the shoes of its principal underwriter, the claim against the insurance agent was dismissed.