By putting the amount of the
policy limits into an account maintained by the court, he said, it would let the court decide who gets what.
A New Jersey appellate court in a Superstorm Sandy case has ruled that, in the absence of a "special relationship," an insurance broker had no duty to provide a commercial property owner with quotes for higher flood insurance
policy limits.
In this property damage loss transfer arbitration, Geico contended that the amounts sought by Nationwide exceeded Geico's
policy limits.
OPPI basically provides excess layer protection above the underlying self-insured retention (SIR)
policy limits.
If the policy period has lapsed in the meantime, a claim for the penalty damages may be denied, or the
policy limits restricted.
Insurers facing
policy limits demands must act cautiously under even the best of circumstances to avoid threats of bad faith.
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 is likely.
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.
