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  1. #11
    Join Date
    Mar 2013
    Posts
    18,340

    Default Re: Insurance vs Defendant Liability

    Quote Quoting karl3712
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    For the time being, I was just concerned with whether I could actually be harmed by not withdrawing my objection based on the apparently empty threat that the insurance company may go under leaving me with the responsibility to pay all legal fees.
    I see you are ignoring my questions. No problem. Bye.

  2. #12
    Join Date
    Jul 2018
    Posts
    2,745

    Default Re: Insurance vs Defendant Liability

    Quote Quoting karl3712
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    I do not understand your question re relevance, but when I was told that if I do not settle now, the insurance company may go under due to the pandemic, and I would wind up holding the bag, I initially took it as a valid threat. After thinking about it, I felt it was a bluff because the case is not against the insurance company. I then checked the defendant's assets which confirmed to me that even if the insurance company does go bankrupt, the defendant is what matters. I felt it was relevant to mention it so that the person answering would be aware that the company could pay even if the insurance is taken out of the equation.
    Let me start by saying that you're correct that the defendant's financial condition may mitigate the impact of its insurer filing bankruptcy (although the amount of assets it has is, by itself, not determinative of anything). However, my question was prompted by my interpretation of your post as suggesting that such a bankruptcy (by the insurer) was unlikely because the defendant has lots of assets. It now seems that you were not suggesting that, so let's move on.


    Quote Quoting karl3712
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    For the time being, I was just concerned with whether I could actually be harmed by not withdrawing my objection based on the apparently empty threat that the insurance company may go under leaving me with the responsibility to pay all legal fees.
    Some of the questions that "adjusterjack" asked in post #9 in this thread are relevant here, but the bottom line is that if you really believe there's a problem with the settlement, you need to retain counsel to advise you. As far as you being "harmed" by not withdrawing your objection, I would say the following: It's theoretically possible that your objection could reduce what you and others receive from the estate. How likely is that? No way for anyone here to know. Is it likely that any of the defendant's insurers are going to go bankrupt. No, but here's one thing to keep in mind: a few weeks won't make much difference in that regard.

    Quote Quoting adjusterjack
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    I see you are ignoring my questions. No problem. Bye.
    If I had to guess, it seems likely that the OP's post #10 was being typed while your post #9 was posted.

  3. #13
    Join Date
    Mar 2013
    Posts
    18,340

    Default Re: Insurance vs Defendant Liability

    Quote Quoting pg1067
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    If I had to guess, it seems likely that the OP's post #10 was being typed while your post #9 was posted.
    A good bet. But it's been several hours since then.

  4. #14
    Join Date
    Jan 2011
    Posts
    401

    Default Re: Insurance vs Defendant Liability

    Quote Quoting karl3712
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    Pressure is being put on me by attorneys on the grounds that the insurance companies may go under due the current situation...
    Is this pressure coming from the estate's attorney or the defendant's attorney? Based on what AJ said in his post #3, if the defendant's attorney is saying this it sounds like a scare tactic to get you to fold rather than a fact.

  5. #15
    Join Date
    Apr 2020
    Posts
    22

    Default Re: Insurance vs Defendant Liability

    Quote Quoting adjusterjack
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    Before I go into a lengthy explanation (one that you sorely need because your erroneous assumptions display a dangerous lack of knowledge), clear up a few things for me.
    The info you provided in post #3 was very valuable -- it was enough for me. Your post #9 did come while I was typing my post #10. I had to get up early to fetch answers for some of the info you asked for and I would appreciate your lengthy explanation.

    Quote Quoting bcr229
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    Is this pressure coming from the estate's attorney or the defendant's attorney? Based on what AJ said in his post #3, if the defendant's attorney is saying this it sounds like a scare tactic to get you to fold rather than a fact.
    I do not have any contact with the defendant's attorney, who is actually the insurance attorney. The pressure came from the attorney representing the estate administrator with copies sent to the personal injury attorney and the court law clerk who had acted as mediator in the settlement negotiations. Ironically, the additional pressure came from that law clerk who immediately supported the administrator's attorney threat -- the law clerk is an attorney. Obviously, something was wrong.

    Quote Quoting pg1067
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    if you really believe there's a problem with the settlement, you need to retain counsel to advise you. As far as you being "harmed" by not withdrawing your objection, I would say the following: It's theoretically possible that your objection could reduce what you and others receive from the estate. How likely is that? No way for anyone here to know. Is it likely that any of the defendant's insurers are going to go bankrupt. No, but here's one thing to keep in mind: a few weeks won't make much difference in that regard. If I had to guess, it seems likely that the OP's post #10 was being typed while your post #9 was posted.
    I definitely appreciate your input. My experience with attorneys on this case has not been encouraging. However, there are other issues with the case in general, and if it looks like one of the issues might have to be tried, I would consider looking for an attorney again. I have to meet a deadline a few days away and cannot divert my focus at least for now. Your bet on AJ's post #9 is correct.

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