Posted On: July 2, 2007, 2:57 pm CDT

Posted By: Ken

The story is about an insurance carrier's failure to settle the claim for within the policy limits. What makes this notable is during the course of litigation the plaintiff's esq demanded the policy limits to settle the dram shop claim and the good people at Princeton decided to roll the dice and came up on the short end of a 75 Million verdict. Compounding their mistake they refused to offer their 1 million policy to settle post verdict. This left the bar owner and others exposed to a judgment that could have been settled and resolved if they just did what they were supposed to do.

This is what we call bad faith claims practices - when an insurance carrier puts its own financial interests ahead of its insured. Does anybody think the injuries aren't worth at least a million?