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In law, the duty to settle is an insurer's implied obligation to accept a settlement in a case against one of its insured parties if it is likely that a potential judgement against the insured will exceed policy limits. If a liability insurer exposes the insured to excess risk by failing to settle within policy limits, they may be liable for ...
A structured settlement is a negotiated financial or insurance arrangement through which a claimant agrees to resolve a personal injury tort claim by receiving part or all of a settlement in the form of periodic payments on an agreed schedule, rather than as a lump sum. As part of the negotiations, a structured settlement may be offered by the ...
In law, a settlement is a resolution between disputing parties about a legal case, reached either before or after court action begins. A collective settlement is a settlement of multiple similar legal cases. [1] The term also has other meanings in the context of law.
Before life settlements, if you owned a life insurance policy that you no longer wanted or needed, you had two choices: surrender the policy for its cash value or allow it to lapse. Then a third ...
DA announces $1.1 million settlement with insurance firm selling in low-income areas. Alliance United Insurance Co. will pay $1.1 million in a consumer protection settlement, District Attorney ...
The settlement aims to clear nearly 100,000 lawsuits filed by consumers ranging from homeowners to farmers who say they developed cancer because of the product. Some 25,000 cases still remain.
Insurance-company claims departments employ a large number of claims adjusters, supported by a staff of records management and data entry clerks. Incoming claims are classified based on severity and are assigned to adjusters, whose settlement authority varies with their knowledge and experience.
All insurance claims research is from NEXT's claims data, January 2021 to July 2024. This story was produced by NEXT and reviewed and distributed by Stacker Media. Show comments.
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