Insurance
Jul. 13, 2011
Third-party bad faith: claims for breach of the duty to settle
When should an insurer accept an offer to settle in a third party lawsuit? By Marc Feldman of Luce Forward Hamilton & Scripps LLP
"Third-party" bad faith is somewhat of a misnomer. That's because even in a third-party bad faith lawsuit, the litigants are the insurer and the policyholder, who are both parties to the insurance contract. Third-party bad faith, therefore, derives its name from the type of insurance policy from which such claims arise - liability policies that insure policyholders against claims by third parties.
Third-party bad faith clai...
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