Does the inequitable conduct of the insurer in the context of the statute of limitations apply?

Real parties in interest urge that the inequitable conduct of petitioner's insurer creates an estoppel against assertion of the statute of limitations. (See, for example, Morgan v. International Aviation Underwriters, Inc., supra, 250 A.C.A. at pp. 217--218, 58 Cal.Rptr. 164.) The trial court made no findings on that score. It is not necessary to make out an estoppel. The problem before the trial court was one of balancing the equities (or inequities). The trial court was justified in concluding that, because of the abrupt termination of settlement negotiations, justice would not be furthered by permitting the defense to plead the bar of limitations.