Making Sure That The Best Case Truly Is A Settled Case

The truism in the insurance world that “the best case is a settled case” is sometimes worth a closer look.

Insurers are motivated to settle cases for a variety of reasons, primarily to prevent future fees and expenses, and to avoid the potential risks presented by a claim. But while it may seem self-evident, when an insurer does settle a claim, it must be sure that it is actually responsible for paying that particular claim. Insurers do not always do this, as we examine below—especially in the complex setting of construction accidents, where numerous insurance policies are potentially at play in response to a construction claim—and that can be a costly error.

CASE IN POINT: DIFFERENT INSURANCE POLICIES IN A CONSTRUCTION ACCIDENT CLAIM