My Ins co caused me to be sued

[djtopcat]

What is the name of your state?From California.
In 2003 I was found at fault in an auto accident. Six people in other car. Five treated at hospital and released. One sent to another hospital for a spot behind eye. All ok today. My ins policy is 100k/300k. Plaintiffs demand $179,000 from my Ins co , Merury. Mercury offered $139,000. Niether party will budge after two years. Plaintiff is now suing me for about $24 million, yes, $24 million. Is this bad faith by Mercury.? The plaintiffs were happy to receive almost half my policy limit. If this goes to trial and plaintiffs are awarded over my limit of $300 k, should Mercury pay the balance or will I be stuck ? PS. I have no money, no car and no home. I do have a job. Can I sue Merury for bad faith negotiations supposedly in my best interest.?
Anyone have any first hand knowedge or answers.

Thanks

 

[shell007]

OP wrote:

The plaintiffs were happy to receive almost half my policy limit.

If the plaintiffs were happy to receive almost half of your policy limit, does that mean that one of the parties back out on the deal for settlement?

Have you contacted your insurance co. about offering them more so that you don't get sued?

Stay posted. Hopefully someone will join in!

 

[djtopcat]

My ins co caused me to be sued

For shellandty. Not sure how to use this forum yet so please understand if I mess it up. The plaintiffs were demanding a little over half of my limit but Mercury wouldnt go that high. Demand was $179k and offer was $139k. I am going to contact my ins (Mercury) as soon as I finish my research. I will let them know, respectfuly, that I wont just stand by and let them (Mercury) destroy me over $40k.

 

[shell007]

I think contacting your insurance co. is the first step. You paid for your coverage as to avoid things like this from happening.

Insurance co. needs to "pay up". Seems as though the insurance co. is obviously more worried about their own wallet than yours, as this is always the way it is in the great country of ours.

 

[djtopcat]

My ins co caused me to be sued

For shellandty. Are you a Calif attorney? You see it the way I see it. I think Mercury is negotiating in thier best interest instead of mine. Could Mercury simply be trying to bluff the plaintiffs assuming they will back down. ? Here is my bottom line, Can I sue Mercury if this goes to trial and the award is over my limit being the plaintiffs demand was reasonable and below my limit. This is
my only trump card that I can figure for now. Thanks for your assistance.

 

[shell007]

I am not an attorney in california, but hopefully by me responding will throw this back up toward the top of the "new posts" and someone can give you california law.

 

[BelizeBreeze]

What is the name of your state?From California.
In 2003 I was found at fault in an auto accident. Six people in other car. Five treated at hospital and released. One sent to another hospital for a spot behind eye. All ok today. My ins policy is 100k/300k. Plaintiffs demand $179,000 from my Ins co , Merury. Mercury offered $139,000. Niether party will budge after two years. Plaintiff is now suing me for about $24 million, yes, $24 million. Is this bad faith by Mercury.?

No

The plaintiffs were happy to receive almost half my policy limit.

And you know that this was a fair settlement how?

If this goes to trial and plaintiffs are awarded over my limit of $300 k, should Mercury pay the balance or will I be stuck ?

You are responsible for everything over the policy limits.

PS. I have no money, no car and no home. I do have a job. Can I sue Merury for bad faith negotiations supposedly in my best interest.?
Anyone have any first hand knowedge or answers.

Thanks

you can sue anyone for just about anything. But in this case, you will lose.

The insurance company could have easily settled but that still would not have caused your liability to cease. I suggest you speak with your insurance company now because instead of acting like their advisary you should start acting like their client.

 

[stephenk]

Does the Complaint actually state damages in the amount of $24 million?

have you talked with the attorney that is representing you about your concerns? If yes, what were you told?

If the other parties make a settlement demand within your policy limits and Mercury decides to fight the case through trial, Mercury is responsible for any amount the plaintiffs are awarded (even above your policy limits)

If the plaintiffs actually demand an amount above $300k and refuse to accept your policy limit to settle, then yes you would be responsible for any trial award above the $300k.

 

[shell007]

24 million sounds ridiculous no matter what? I wonder where this figure even came from!

Did someone Die as a result of this accident? I know you stated that 6 people were involved and 5 people were treated and released, but 24 million dollars??? Did I miss something previously in this post?

Good God! This is almost comparable to a "mega millions" lottery ticket!

 

[Darth]

Yea i think they would of all had to die to get close to that..
What kind of inguries did they have ?

 

[moburkes]

Pay Attention to the Policy Limits, Please

What is the name of your state?From California.
In 2003 I was found at fault in an auto accident. Six people in other car. Five treated at hospital and released. One sent to another hospital for a spot behind eye. All ok today. My ins policy is 100k/300k. Plaintiffs demand $179,000 from my Ins co , Merury. Mercury offered $139,000. Niether party will budge after two years. Plaintiff is now suing me for about $24 million, yes, $24 million. Is this bad faith by Mercury.? The plaintiffs were happy to receive almost half my policy limit. If this goes to trial and plaintiffs are awarded over my limit of $300 k, should Mercury pay the balance or will I be stuck ? PS. I have no money, no car and no home. I do have a job. Can I sue Merury for bad faith negotiations supposedly in my best interest.?
Anyone have any first hand knowedge or answers.

Thanks

Remember, the most your insurance company will pay for 1 person's injuries is $100k. It could be that 1 person (in the $179k request) is demanding over $100k. $300k is the most that will be paid total for medical, but you cannot ignore the $100k per person limit. Without knowing how the $179 is divided, we are unable to figure out if that's the problem. It may be that one person that is not budging (the one who had the eye problem) that is hurting the settlement. You would need to provide us with the per person requirement (which you probably don't know). Remember, the insurance company would rather pay $179k than go to court, if they think they will LOSE. That's why people get mad all the time at the insurance company (for example, "I told them not to pay anything, but they did anyway, and now they're hurting me from getting new insurance coverage with another company.").