Mass.
Hello:
Let's say 3 people are injured in an auto accident caused by "Joe".
Joe's insurance company admits that it was his fault, and is willing to pay
off the three claimants up to the limits on his auto policy.
But, only two have actually filed for damages so far.
There is a 3 yr statute of limitations.
They of course, both want sums that are in excess of the limits.
a. Does the insurance company settle with the two who have filed, and say
"too bad, bring your own suit against Joe" for the one who hasn't filed
yet, although the likelihood is near certain that he will within the
3 year time limit ?
b. Does the insurance company (have to) wait for any settlements to be given until the statute of limitations is up, and then try to split the funds "equitably" among those who have actually filed a claim ?
Let's now assume that all three have filed.
a. Does the insurance company try to split the allowable insurance limit
between the three equitably, and get them to accept this, so that there is
not future claim against Joe ? Is the insurance company "legally obligated"
to do so.
b. If they give the bulk of the insurance money to only one or two of the
claimants, then the third would probably sue Joe.
c. What is the insurance companies legal responsibility with regard to
splitting of the insurance money, and trying to keep Joe from being sued for
additional from either of the three ?
Is there any legal responsibility on their part relative to this ?
d. Is there any legal responsibility to represent Joe, if Joe claims that
it wasn't (totally) his fault ? How about if the insurance company "really" feels
Joe hasn't a case, and is willing to settle, but leaving Joe liable for any awards over the limit of the policy ?
Thank you.
Hello:
Let's say 3 people are injured in an auto accident caused by "Joe".
Joe's insurance company admits that it was his fault, and is willing to pay
off the three claimants up to the limits on his auto policy.
But, only two have actually filed for damages so far.
There is a 3 yr statute of limitations.
They of course, both want sums that are in excess of the limits.
a. Does the insurance company settle with the two who have filed, and say
"too bad, bring your own suit against Joe" for the one who hasn't filed
yet, although the likelihood is near certain that he will within the
3 year time limit ?
b. Does the insurance company (have to) wait for any settlements to be given until the statute of limitations is up, and then try to split the funds "equitably" among those who have actually filed a claim ?
Let's now assume that all three have filed.
a. Does the insurance company try to split the allowable insurance limit
between the three equitably, and get them to accept this, so that there is
not future claim against Joe ? Is the insurance company "legally obligated"
to do so.
b. If they give the bulk of the insurance money to only one or two of the
claimants, then the third would probably sue Joe.
c. What is the insurance companies legal responsibility with regard to
splitting of the insurance money, and trying to keep Joe from being sued for
additional from either of the three ?
Is there any legal responsibility on their part relative to this ?
d. Is there any legal responsibility to represent Joe, if Joe claims that
it wasn't (totally) his fault ? How about if the insurance company "really" feels
Joe hasn't a case, and is willing to settle, but leaving Joe liable for any awards over the limit of the policy ?
Thank you.
