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The emerging majority view is that a liability insurer should take the initiative to make a settlement offer, even in the absence of a demand by the claimant, when (1) liability is probable and damages are great, (2) the insured is likely to be exposed to a judgment beyond the policy limits and a reasonable insurer would make a settlement offer up to the amount of its own policy limits if its own exposure had no policy limits or (3) the insured has excess insurance or other monetary resources above the policy limits.(17) A Florida court has summarized this view concisely: "Where liability is clear, and injuries so serious that a judgment in excess of the policy limits is likely, an insurer has an affirmative duty to initiate settlement negotiations."(18)
Some courts hold that an insurance company cannot be relieved of its duty to settle even if the only settlement demand is made by the plaintiff in excess of policy limits.
2523(i)(2) is not available with respect to T's transfer in trust and T may not exclude the present value of S's income interest in excess of $10,000 from T's total 1996 calendar-year gifts.
On the basis of actuarial calculations, the taxpayer contributed more than $35 million to fund the postretirement medical and death benefits for 1986 and in excess of $40 million for 1987.
One area of potential difference relates to the existence of a conflict of interest that might divest the insurer of the right to control the defense, even though that right is reserved in the policy.(10) What creates a conflict is an incentive for counsel retained by the insurer to defend in a way that serves the insurer's interests at the expense of those of the insured--for instance, by having any liability found only on non-covered grounds.(11) The fact that the insured will be liable for payments below a certain level should not create a conflict any more than the fact that the insured will be liable for payments in excess of the policy limit.
The Ship propelled by three powerful 'Water Jets' can achieve speed in excess of 35 knots.
* For failures to distribute elective deferrals in excess of the Sec.
The ships measuring close to 50 meters in length and displacing 325 tons, can achieve speeds in excess of 30 Knots.
The actuary computed a liability in excess of $500,000, all of which was paid and deducted in a single year.