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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Insurance

Date & Time
  • event Date

    Thursday, October 24, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

$297.00

This course is $0 with these passes:

CLE
ALL

This CLE webinar will guide attorneys through one of the most challenging of all issues: convincing insurance carriers to settle for the policy limits while defending a potentially non-covered claim under a reservation of rights when taking into account almost certain damages exceeding policy limits.

Faculty

Scott N. Godes
Partner
Barnes & Thornburg

Mr. Godes regularly represents clients facing insurance coverage issues arising out of ransomware, business email compromise, cybersecurity, data breach, cyberattack, privacy and other technology-related claims. He focused on insurance coverage for cybersecurity and privacy risks in 2008, allowing him to join his long-standing interest in technology with a new area of insurance. Since that time, Mr. Godes has litigated some of the few court cases regarding the scope of coverage available under cyber insurance policies, as well as coverage under other insurance policies for losses due to cyberattacks, privacy events, and wire and computer frauds.

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Eric Retter
Counsel
Clyde & Co LLP

Mr. Retter focuses his practice on advising insurance carriers regarding coverage. He is a member of the North American FIDO/Professional Liability Practice Group. Mr. Retter has a diverse range of experience representing clients through the litigation process and has significant experience in state, federal, and appellate courts. He has successfully resolved insurance disputes through litigation and mediation in cases involving professional liability, property damage, business income losses, general liability claims, and employment practices. Mr. Retter has also counselled insurers as monitoring counsel and is familiar with advising carriers on their rights and duties with regards to both primary and excess policies.

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Description

Counsel face significant risk when deciding whether to settle ostensibly uncovered claims for policy limits and the insurer is defending under a reservation of rights. Settling may moot the coverage defenses. Failing to settle a potentially uncovered claim can lead to liability for an excess verdict.

When a plaintiff offers to settle an uncovered claim for policy limits, counsel should carefully evaluate potentially implicated coverage issues, and whether to seek a declaratory judgment on coverage as well as the consequences of not doing so.

Suppose an insurer opts for conditional settlement, subject to a later coverage determination. In that case, insurance carriers may still face allegations of bad faith failure to settle and structure all aspects to defeat such claims.

Listen as this experienced panel of insurance practitioners outlines best strategies for dealing with settlement demands for ostensibly uncovered claims.

Outline

  1. How the issue arises
  2. Insurer's traditional options
  3. Insights from recent cases

Benefits

The panel will address critical issues, including:

  • Whether the duty to defend includes an absolute duty to settle if an offer falls within the policy limits--even where the insurer has filed a declaratory judgment action disputing coverage
  • Is there a greater duty to defend in the third-party context?
  • What is the effect of a repayment clause in the underlying policy?
  • How can the insurer avoid liability and avoid a claim of bad faith?
  • Must an insurer accept all offers below the policy limits, regardless of circumstances?