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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    Insurance

Date & Time
  • event Date

    Wednesday, August 11, 2021

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$297.00
CLE
ALL

This CLE course will alert counsel who works for, with, or against insurance carriers to the dangers of eroding insurance policies, also known as defense-within-limits policies. When every dollar spent on legal fees reduces funds available to settle a case or pay a judgment, all involved must take extra steps to avoid tapping out all available insurance coverage.

Faculty

Arthur R. Armstrong
Shareholder
Flaster/Greenberg, PC

Mr. Armstrong's practice concentrates in insurance recovery exclusively on behalf of policyholders and commercial litigation. He regularly represents privately held and publicly traded companies against primary and excess insurers to secure coverage under property, commercial general liability, D&O, E&O and other insurance policies. Mr. Armstrong's practice also focuses on insurance recovery for cyber attacks, including ransomware, DDoS attacks, social engineering, malware attacks and other cyber threats. He holds a certificate from HarvardX for "Cybersecurity: Managing Risk in the Information Age."

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P. Wayne Pickering
Partner
Martin, Disiere, Jefferson & Wisdom, LLP

Mr. Pickering’s legal experience includes many years of experience in insurance litigation at both the trial and appellate level in various state and federal jurisdictions. In recent years, an increasing number of both primary and excess/umbrella insurers have turned to him for legal counsel as to their rights, duties, and development of appropriate strategies under the Stowers doctrine in responding to settlement demands for their policy limits.

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Description

Under an eroding insurance policy, the same pool of funds that pays defense costs also pays settlement or judgment. The tension between mounting a vigorous defense and preserving policy limits to put toward settlement (or satisfy a judgment) raises concerns for all involved, from the client to counsel to the insurer.

This dynamic presents issues of liability arising out of potential or actual conflict. Counsel must take immediate steps to mitigate such exposure. The plaintiff counsel must balance litigating the claim and increasing defense expenses versus preserving insurance proceeds funds for the plaintiff.

Insurers are subject to scrutiny as well. Some jurisdictions place restrictions on such policies or place outright bans on them, creating choice-of-law and forum challenges. Even without such limits, the specter of bad faith claims remains.

Listen as the panel provides various perspectives on this set of legal difficulties and provides the tools necessary to address issues of walking the tightrope between zealous representation and preservation of funds. Not only will the panel discuss topics for counsel, but there will be an in-depth analysis of legality and bad faith.

Outline

  1. Plaintiff counsel issues: zealousness and erosion
  2. Defendant counsel issues
    • Balancing client demands for defense with preservation of funds
    • Insurer relationship
  3. Insurer issues
    • Public policy/legality issues
    • Bad faith
  4. Pretrial settlement and mediation

Benefits

The panel will review these and other notable matters:

  • What are the characteristics of an eroding policy?
  • What client concerns need to be addressed by plaintiff and defense counsel?
  • How can insurer risks and exposures be levered (or mitigated)?