Settling Multiple Claims with Insufficient Policy Limits

The course “Settling Multiple Claims with Insufficient Policy Limits” is designed to explore approaches to handling multiple claim/insufficient limits cases. The module is presented by William K. McVisk, a shareholder at the Chicago firm of Johnson & Bell, Ltd., and Melissa E. Raymer, MBA, CPCU, AIC, ARM, ARe, Western Region Casualty Claims Manager at Western National Mutual Insurance Company.

The course discusses when an insurer can withdraw defense upon exhaustion of limits and how to do so without causing prejudice. It examines the implications of settling with one claimant and depleting or exhausting limits at the expense of other claimants. In addition, it examines the implications of settling on behalf of one insured while depleting or exhausting limits without settling on behalf of other insureds.

After completing the course, the attendee will be able to identify the insurer’s exposure on multiple claims, and the need to keep the policy available to pay the claims and to defend the claims; define the duties of the insurer as provided by the policy; enumerate the limitations on the duty to defend and to indemnify; establish how limits are determined; understand how to determine the number of occurrences; know the good faith/bad faith considerations; describe the impact of policies where limits include defense costs; define interpleader; outline strategies for protecting both the insured and the insurer; advise the claimant’s counsel of the limits problem; know the value of good communication with the insured; and define the value of mediation.

The course is designed for practitioners and insurance professionals working in the area of casualty insurance coverage and litigation.