Most people with insurance coverage, when faced with a lawsuit, simply want it to go away. But when that doesn’t happen, because the insurance company is unwilling to settle, the insured may rightfully be concerned about becoming subject to an excess verdictthat is, a monetary judgment greater than the policy limits.
The consequences of an excess verdict to an average individual or small business can be financially devastating. However, under some circumstances the non-settling insurer will be held responsible.
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