An insurer’s ability to refuse a settlement case is only limited on account to its duty to act in good faith. Instead, they owe its policyholder a duty to settle if, and only if, the policyholder’s settlement amount is within the limit of the insurer’s policy.
However, if an insurer refused to accept an offer of reasonable settlement from an injured party due to exceeding policy limits, insurance companies might be in the midst of exposure in a bad faith claims liability.
It is therefore imperative that companies who are prone to this kind of situation to remain proactive in devising an effective and advance practices on how to handle insurance claimants in order to avoid exposure to bad faith claims.
In this LIVE webcast, insurance attorneys Michelle Burton (Shoecraft Burton) and Hugh Hughes (Saxe Doernberger & Vita) will help insurance companies understand the important aspects of the insurer’s duty of settlement. As experts, they will also offer best practices in developing and implementing effective practices in mitigating risks and avoiding potential exposure to bad faith claims.
Some of the major topics that will be covered in this course are:
- An Overview of the Insurers Duty to Settle
- Recent Trends and Developments
- Notable Court Rulings
- Common Risks and Pitfalls
- Practical Tips and Best Practices
- What Lies Ahead