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The Insurer's Duty to Settle: Bad Faith and Verdicts in Excess of Policy Limits

Navigating the Nuances of the Insurer's Duties and Risk of Bad Faith Claims

A live 90-minute CLE video webinar with interactive Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Tuesday, January 7, 2025

1:00pm-2:30pm EST, 10:00am-11:30am PST

Early Registration Discount Deadline, Friday, December 13, 2024

or call 1-800-926-7926
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This CLE course will review the rights and obligations of the policyholder and the insurer regarding settlement, the insurer's liability for verdicts in excess of policy limits, actions insurers can take to reduce exposure to bad faith failure to settle claims, and options for policyholders if the insurer rejects a settlement demand.

Description

Attempts to settle underlying claims are often the source of disagreement and dispute between the policyholder and its insurer. When an insurer fails to accept a settlement offered by an injured party, the policyholder is at risk that the ultimate verdict will exceed the policy limits. The insurer faces a separate risk--exposure to bad faith claims and liability for the entire amount of the judgment.

Navigating these scenarios requires a detailed understanding of the scope of the duty to settle. Counsel must understand the tactics commonly used and the options available to each side. Under some circumstances, an insurer may be justified in rejecting a settlement demand. In other cases, the policyholder is entitled to settle without its insurer's consent and may sue the insurer for bad faith.

Listen as our authoritative panel of insurance practitioners discusses the rights and obligations of the policyholder and the insurer regarding settlement, the insurer's liability for verdicts in excess of policy limits, actions insurers can take to reduce exposure to bad faith claims, and options for policyholders if the insurer rejects a settlement demand.

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Outline

  1. Scope of insurer's duty to defend and duty to settle
  2. Insurer's risk of claims for bad faith litigation
  3. Policyholder remedies when the insurer breaches its duty to settle
  4. Best practices for insurers to reduce exposure to bad faith litigation
  5. Options for policyholders when the insurer does not want to settle
  6. Bad faith failure to settle claims brought by third parties

Benefits

The panel will review these and other key issues:

  • What is the scope of an insurer's duty to defend and duty to settle?
  • What are the critical factors for insurers when deciding whether to settle within the policy limits?
  • What factors do courts typically consider in determining whether a particular settlement demand is reasonable?
  • What steps can insurers take to reduce exposure to bad faith litigation?
  • What options are available to policyholders who disagree with the insurer's decision not to settle within the policy limits?

Faculty

Siegel, Lee
Lee S. Siegel
Member
Hurwitz Fine

Mr. Siegel joins Hurwitz & Fine, P.C. as a litigator in the Insurance Coverage Group. He brings 25 years of...  |  Read More

Additional faculty
to be announced.
Attend on January 7

Early Discount (through 12/13/24)

Cannot Attend January 7?

Early Discount (through 12/13/24)

You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. Strafford will process CLE credit for one person on each recording. All formats include course handouts.

To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video