Harrison Yoss Speaking at Annual CLM Conference
INSURANCE BAD FAITH - Avoiding Extra-Contractual Exposure: When Does the Duty to Negotiate Arise?
- Christopher Carucci, Everest National Insurance Company
- Sonia Odarczenko, Markel Service, Incorporated
- Neil Selman, Selman Breitman
- Nelson Tavares, W.R. Berkley Corporation
- Harrison Yoss, Thompson, Coe, Cousins & Irons LLP.
This Session will be held on March 27, 2015 10:25 AM
Failure to settle a case within policy limits can have catastrophic effects for the insured and the insurer, and recent cases have significantly changed the landscape concerning the duty to settle. The old rule that an insurer only had a duty to respond to a settlement demand within limits is being overhauled by courts that have concluded that "a claimant's interest in settlement" is enough to trigger a duty while others now seem to require the carrier initiate settlement discussions when necessary to protect the insured, even without a demand. The session will discuss these changes and discuss the best strategies for avoiding situations where a failure to properly respond to settlement opportunities can lead to extra-contractual exposure. Topics will include how to identify when a duty to discuss settlement arises; how best to communicate with the insured and the claimants; the role of the claims person and the role of defense counsel; and how claims professionals should respond to such situations, both internally and with other stakeholders.
Find out more about the conference.