DATE: Tuesday, May 10, 2022
TIME: 1:00 PM - 2:30 PM
ORGANIZER: Strafford Publications
This CLE course will discuss what options exist when the insurer and policyholder disagree over how to resolve third-party liability, with an emphasis on the conditions under which a policyholder may settle the claim on its own, the risks of doing so, and its right to indemnity from the insurer.
Policyholders and insurers often disagree about the financial, legal, emotional, and business costs involved in settling or litigating claims, litigation and settlement strategies, the value of the claim, and the amount and structure of any potential settlement.
Who has control over settlement decisions and the rights and duties of the insured and insurer depend on numerous factors. Differing state laws, reservations of rights, policy terms, and the facts and allegations at issue in the litigation, among other things, all may have an impact on the parties’ rights and obligations regarding settlement.
Settlement disputes arise in differing contexts. In some cases, the policyholder prefers to settle any underlying claims while the insurer prefers to contest liability. In other cases, the positions are reversed. In both instances, disputes may exist about the particulars of the settlement. Counsel need to understand the full range of options available.
Listen as this experienced panel discusses what options are available when the insurer and policyholder reach an impasse and the risks to both parties.