Stauffer, President & CEO, commented that: "Oil Insurance Limited is committed to providing long term value to its membership by offering significant policy limits
with broad terms and conditions, returning excess value by way of premium credits and dividends when appropriate as well as potentially considering additional coverages to enhance the overall value proposition of being a member.
The trial court granted summary judgment for the insurance company, but the appellate court reversed and remanded, finding that an insurer has an affirmative duty to initiate settlement discussions where "liability is clear, and injuries so serious that a judgment in excess of the policy limits
range up to $15 million, the company said, and the product features automatic reinstatement of policy limits
for independent directors.
This Alabama case illustrates how one malpractice insurance carrier, in refusing a claimant's offer to settle within insurance policy limits
, did a disservice to one physician
County policy limits
stolen-vehicle pursuits for public safety concerns.
Putting aside the priciples of indemnity, the challenge of Mierzwa was the idea that an insurer would owe policy limits
no matter how de minimus the damage caused by a covered peril.
The new policy limits
the opportunities available to foreign investors who want to participate in the growth and development of media industries in the country.
If policy limits
are exhausted, the personal assets of the insured persons will be at risk.
Hauglin was represented by his insurance company, Mid-Century, which had issued a policy to Hauglin with policy limits
of $50,000 per person and $100,000 per accident.
Ideally, the insurance company will then tender policy limits
or pay whatever is necessary to absolve the defendant from exposure to personal financial liability.
which recognized that a policyholder had a cause of action against his liability insurer for negligently refusing a settlement offer within policy limits
Premiums generally are between 3 and 9 percent of the policy limits
, depending on the specific transaction insured.