UNDERSTANDING THE RISKS

Description

There have been an increasing number of disputes between policyholders and insurance companies requiring a judicial resolution within the last fifteen years; juries have awarded policyholders large verdicts. Even if an insurance company denies or delays payment because an apparently sound basis for denial, a bad-faith judgment may nevertheless result if it is later determined that the insurer’s denial or delay was “wrongful.”  If the insurer is found to have acted in bad faith, it might pay a judgment in excess of its policy limits to a third party, or pay to its insured the underlying amount covered by the policy, including any emotional distress damages suffered and, potentially, punitive damages. The discussion in the session materials has substantially been taken from Steve Plitt and Jordan R. Plitt, Practical Tools for Handling Insurance Cases (Thomson Reuters 2011).  Thomson Reuters has granted permission for the use of these materials. 
 

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