05
Jan
2017

Bad Faith Claims When Verdicts Exceed Policy Limits: Navigating Nuances of the Insurer's Duty to Settle

Strafford Publications, Inc.

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DATE: Thursday, January 5, 2017

TIME: 1:00 PM - 2:30 PM

This CLE webinar will provide counsel with a review of the rights and obligations of the policyholder and the insurer regarding settlement, the insurer's liability for verdicts in excess of policy limits, actions insurers can take to reduce exposure to bad faith claims, and options for policyholders if the insurer rejects a settlement demand.

Attempts to settle underlying claims are often the source of disagreement and dispute between the policyholder and its insurer.  When an insurer fails to accept a reasonable settlement offered by an injured party, the policyholder is at risk that the ultimate verdict will exceed the policy limits.  The insurer faces a separate risk -- exposure to bad faith claims and liability for the entire amount of the judgment.

Navigating these scenarios requires a detailed understanding of the scope of the duty to settle.  Counsel must understand the tactics commonly used and the options available to each side.  Under some circumstances, an insurer may be justified in rejecting a settlement demand.  In other circumstances, the policyholder is entitled to settle without its insurer's consent and may sue the insurer for bad faith.

Listen as our authoritative panel of insurance practitioners discusses the rights and obligations of the policyholder and the insurer regarding settlement, the insurer's liability for verdicts in excess of policy limits, actions insurers can take to reduce exposure to bad faith claims, and options for policyholders if the insurer rejects a settlement demand.

Related People

- Insurance Recovery Attorney | Anderson Kill P.C.
Managing Shareholder (Firm)
New York

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