Insurance 101 – Chapter 13 – Volume 18 – Conflicts of Interest

Conflicts of Interest

insured often wants to vindicate him- or herself or his or her product, while the insurer wants only to defend the case and reach a resolution that is mutually economically beneficial. Product liability, medical malpractice, attorney malpractice, and insurance agent malpractice are areas in which this type of conflict appears. If there is a rare “consent” provision in the policy, the adjuster and the attorney must abide by the insured’s wishes. Otherwise, the insurer has the absolute right to control the defense and enter into a settlement the insurer believes appropriate.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

 

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