Insurance
Aug. 12, 2016
Bad faith spurs liability for excess settlements
A recent appellate decision addressed an issue of importance to insurers and insureds alike — the liability of a primary insurer for failing to settle a suit against its insured when the suit is later settled for a higher amount. By Fiona A. Chaney
In Ace American Insurance Co. v. Fireman's Fund Insurance Co., 2016 DJDAR 8044 (Aug. 5, 2016), the California Court of Appeal addressed an issue of importance to insurers and insureds alike - the liability of a primary insurer for failing to settle a suit against its insured when the suit is later settled for a higher amount. This decision actually involved a battle between two insurers. The primary insurer contended th...
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