Early settlement saves on policy limit / defence costs

We assisted an insurer to settle out of a potentially long-running dispute by paying a proportion of the policy limit in satisfaction of all claims. Whilst the amount paid was substantial, it represented a large discount on the total limit, and removed the exposure for defence costs (which were potentially uncapped).


Related Articles

Federal Court of Australia Insurance List

Legal Directions

As part of the National Court Framework Reforms, the Federal Court of Australia will establish an Insurance List for short matters…

Continue reading

NO LONGER PART OF THE GROUP: IT MAY NOT BE TOO LATE

Legal Directions

Murray v Great Southern Managers Australia Ltd [2018] VSC 416 Facts In August 2011, a group proceeding was commenced on behalf…

Continue reading

INSURERS WIN ON AGGREGATION CLAUSE IN COVERAGE DISPUTE OVER CLASS ACTION

Legal Directions

Bank of Queensland Ltd v AIG Australia Ltd [2018] NSWSC 1689 Clients of a financial planner had been defrauded in a…

Continue reading