Friday, May 16, 2014
10:00 AM – 11:00 AM EDT
What core concepts are addressed?
This program addresses the various state law approaches to the obligations of an insurer to settle a claim even when coverage defenses exist. Through a hypothetical set of facts involving a professional liability claim, the program explores the various factors that courts have found that insurers should consider in evaluating the reasonableness of a settlement offer, as well as the different standards courts use to determine whether an insurer has acted in good faith in declining a settlement offer. The presentation also addresses the circumstances under which an insurer’s refusal to settle on the basis of no coverage may expose it to extra-contractual liability. With respect to this topic, we explain the rule followed by the majority of courts in the United States as well as the rule followed by the minority of jurisdictions. The program also examines how insurers should approach settlement offers when damages are only partially covered.
What are the key learning objectives?
To create an appreciation by the insurance claims professionals of the complexities of this situation and the significant potential for liability in excess of the policy’s limit if the situation isn’t handled appropriately.
John D. Hughes
Robert W. DiUbaldo
Laura E. Bange
For more information and registration, please click here.