Insurance
Jun. 16, 2017
An insurer's liability for failure to settle [MCLE]
Insurers and insureds often disagree about whether a claim or lawsuit against an insured should be settled and if so, for how much. What should not be subject to disagreement is an insurer's duty to pay reasonable settlements.
Kirk A. Pasich
Partner and Co-Leader of the Insurance Recovery Group
McGuireWoods LLP
Phone: (310) 956-3462
Email: kpasich@mcguirewoods.com
Loyola Law School
Insurers and insureds often disagree about whether a claim or lawsuit against an insured should be settled and if so, for how much. What should not be subject to disagreement is an insurer's duty to pay reasonable settlements.
The California Supreme Court stated the governing rule nearly 60 years ago: "There is an implied covenant of good faith and fair dealing in every contract that neither party will do anything which will injure the right of the other to receive the benefits of th...
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