Parties to a lawsuit may have vastly different perspectives on the validity and value of a claim, but as a matter of course, the issue of settlement will arise. Trial is an exceedingly expensive endeavor with an uncertain result. From a risk management perspective, the decision to settle is critical. Yet under liability policies that
This is the first in a series of discussions about issues that arise on a regular basis after policyholders file an insurance claim.
Many liability insurance policies require the insurer to defend the insured. This “duty to defend” usually includes the right to select defense counsel – typically “panel counsel” from a list of pre-approved
In a landmark victory for policyholders, the Supreme Court of Wyoming found that a subsidiary of Sinclair Oil can invoke statutory bad faith damages after prevailing in a coverage dispute with its insurer, Infrassure. The court rejected the district court’s analysis that supported the insurer’s narrow interpretation of the state’s insurance code. On certification from