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Showing search results for "Month: June 2015"

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Insurer not liable in case settled without its consent

ERM Considerations:
  • The GA Supreme Court ruled that XL was not obligated to contribute to a settlement that they did not consent to
  • This is out of line with most similar cases because the burden is on the insurer to show it was prejudiced by the lack of consent
  •  This case will have a big impact on GA suits where consent is an issue but should not be a big deal outside of Ty Cobb’s home state
An insurer is not liable for a bad faith claim in a case where, contrary to policy language, an insured settled without the insurer’s consent, says the Georgia Supreme Court, in a case involving an XL Reinsurance America Inc.… Read More >

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Shale-Oil Producers Ready to Raise Output

WSJ Full Article After slashing the number of drilling rigs for months, U.S. shale-oil companies say they are ready to bring rigs back into service, setting up the first big test of their ability to quickly react to rising crude prices.… Read More >

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