THE TREND CONTINUES
Following the trend of cases across the country, the New Jersey Superior Court has found that settling a case without the consent of the insurer, when the insurer provides a qualified defense under a reservation of rights, does not necessarily violate policy's consent clause.
Do Your Claims Metrics Add Value?
“All claims department operations are alike!” Many claim managers would argue such a statement is untrue. And yet, claim mangers have for years used “Industry Standard Performance Metrics” (ISPM) to judge the performance of their department and their staff. But does measuring performance against the rest of the industry assure your operation just like all the rest? Why should a claims department be different than the rest of the industry? Does handling claims just like every other insurance company add value for the customer?
Three Recent Cases Tell Insurers, Denying Coverage or Reserving Rights are Indistinguishable When the Insured Settles With or Without Consent
How can a carrier lose control of the defense and settlement of a case and still be required to pay? Deny coverage, fail to defend or provide a qualified defense under a Reservation of Rights. And, the carriers can be required to reimburse the insured settlement and defense costs, even in excess of policy limits. How can that happen?
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