Arnie Levinson of Signature Resolution. Courtesy photo New Excess Verdict Demand Letter Requirements
There have been no express judicial or legislative standards of when and how reasonable settlement demands should be made, until now, according to Arnie Levinson of Signature Resolution.
August 04, 2023 at 06:42 PM
6 minute read
Insurance Law
Where an insurance company fails to accept a reasonable settlement demand within the limits of the applicable insurance policy, it can be responsible for the entirety of a judgment entered against its insured. In order for that to happen, the demand must be reasonable, and the insurer must have a reasonable opportunity to evaluate and assess the demand. See CACI 2334. In addition, there must be a finding that the insurer's conduct was unreasonable. See Pinto v. Farmers Insurance Exchange (2021).
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