Tuesday, May 13, 2014
10:00 AM – 11:00 AM EDT
Live Webcast
Description:
What core concepts are addressed?
This presentation addresses an insurer’s duty to defend under an insurance policy and the various state laws, both statutory and decisional, that affect this duty. Using a hypothetical set of facts involving a lawyers’ professional liability claim, the presentation explores the circumstances under which an insurer’s duty to defend is triggered, how various jurisdictions address the use of extrinsic evidence in an insurer’s duty-to-defend analysis, and when an insurer may be entitled to rescind an insurance contract. The presentation also addresses how different jurisdictions approach the issue of an insured’s right to independent counsel and whether an insurer may challenge the reasonableness of defense costs. The program examines the consequences of an insurer’s wrongful refusal to defend, including whether an insurer that has improperly denied its duty to defend may be liable for a judgment or settlement in excess of policy limits. Finally, the program explores whether an insured may be entitled to recover its defense costs where an insurer has unsuccessfully brought a declaratory judgment action against the insured seeking a determination that it has no obligation to defend.
What are the key learning objectives?
To:
- create an appreciation on behalf of the insurance claims professionals of the nuances and complexities of these issues;
- recognize when an insurer’s denial of its duty to defend may expose it to a judgment or settlement in excess of policy limits;
- understand how different jurisdictions approach an insured’s right to independent counsel; and
- understand when an insured may recover its defense costs in a declaratory judgment action.
For more information and registration, please click here.
