New Jersey Judge: Insurer Has Discretion To Exhaust $2M Policy Limit In Good Faith

Mealey's (January 18, 2017, 11:07 AM EST) -- NEWARK, N.J. — A New Jersey judge on Nov. 18 held that a general liability insurer has the discretion to exhaust its $2 million policy limit in good faith to settle underlying claims against one of its insureds even if the settlement does not resolve the claims against its other insureds, granting the insurer’s motion for summary judgment (National Surety Corp. v. First Specialty Insurance Corp., No. L-3983-16, N.J. Super., Essex Co.)....

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