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PA Court Refuses to Expand Scope of Third-Party Bad Faith Liability
Traditionally, courts have found bad faith in two contexts ' when an insurer wrongfully denies coverage in a first-party claim and when an insurer's improper refusal to settle a third-party claim results in an excess verdict against the insured. Courts have recognized bad faith causes of action under these circumstances in light of the type of policy involved and the nature of the insured's interests that are at stake.
Under a first-party policy, an insured seeks coverage for damage or loss to the insured's own property. When an insurer denies coverage for that loss, the denial has a direct pecuniary effect on the insured. The interest of an insured seeking protection from a third party's claim under a liability policy, however, is more tenuous. So long as the insurer resolves the claim for an amount within the insurer's policy limits, its decision of whether to settle, when, or for how much, typically does not impact the insured. Of course, if the insurer's refusal to settle results in an excess verdict, the insured is exposed directly to pecuniary harm because the insured becomes legally obligated to pay those amounts beyond the policy's limits.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.