Yesterday something very unusual happened. An insurance company paid an amount in excess of its limits in a voluntary settlement before a lawsuit was filed. In most of my claims on behalf of injured victims the upper limit of a settlement is the amount of the insurance coverage available. This is unfortunate because my clients often have damages which would justify a jury verdict above the insurance limits. But, most wrongdoers have no reachable assets beyond the limits of their insurance coverage.
Yesterday, for reasons I should not reveal, a significant amount above the limits was obtained for my client.
The most common path to an insurance payment above the polity limits is when the insurance company has acted in bad faith during negotiations, refused an opportunity to settle within the policy limits, and then permitted its insured to be hit with a judgment above the limits. There are other paths, however. It is gratifying when one of these paths can produce fairer compensation for an injured victim.
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