An insurer defending a claim against an insured that could exceed policy limits has a good faith obligation to settle the claim if possible. Failure to do so puts a nonsettling insurer at grave risk. An Eleventh Circuit Court of Appeals decision shows that one insurer’s response to a policy limits settlement opportunity can be
Keep Viking Pump in Your Long-Tail Claim Toolbox
“Long-tail” claims involve personal injury or property damage from alleged exposure to injury-causing products, such as asbestos or PFCs, over a number of years and multiple policy periods. Courts in various jurisdictions use different methods to identify the insurance policies applicable to these long-tail claims. One of the most important coverage cases of 2016 demonstrates
Fifth Circuit Holds that Insurer’s Payment to Insured’s Independent Counsel Erodes Policy Limits
A recent Fifth Circuit case highlights the potential risks of purchasing a defense-within-limits policy: If an insurer is obligated to hire independent counsel due to a conflict of interest, that counsel’s fees may erode your policy limits.
When an insurer accepts coverage of a liability claim, the insurer typically has the right to choose counsel