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A rationale for this duty is that "[w]hen an offer is made to settle a claim in excess of policy limits for an amount within policy limits, a genuine and immediate conflict of interest arises between carrier and assured." [5] "An insurer who denies coverage does so at its own risk. Such factors as a belief that the policy does not provide ...
The duty to defend is a contractual indemnitor or liability insurer's duty to defend the insured or indemnified party against claims. It is generally broader than the duty to indemnify and may cover defense against claims where ultimately no damage is awarded, and possibly even against claims that would not be covered by the duty to indemnify. [1]
Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.
Filing a home insurance claim might make the most sense when the loss estimate is more than your deductible. Any claim, even a minor one, might lead to an increase in your home insurance premium.
A denied car insurance claim doesn’t necessarily mean the end of the claims process. If you do not agree with your insurer’s claim denial, you have the right to appeal the insurance company ...
In the United Kingdom and in Australia, in relation to insurance, duty of disclosure refers to the obligation of the insured person or proposed insured person to disclose to the insurer every matter that he or she "know[s], or could reasonably be expected to know, is relevant to the insurers' decision whether to accept the risk of insurance" or ...
In many other states, including California [19] and New York, [20] the duty to defend is ascertained by also looking to all facts known to the insurer from any source; if those facts when read together with the complaint show that at least one claim is potentially covered (that is, the complaint actually alleges a claim of the kind which the ...
Blue Cross Blue Shield will soon begin paying out $2.67 billion to customers follow a years-long lawsuit alleging that the health insurance giant broke antitrust laws.. The litigation began in ...