To the Policy Limits and Beyond

How often does a plaintiff have an opportunity to collaborate with an insured defendant to pressure the defendant’s insurance company into settlement? What are the elements necessary to support an agreement to settle for the policy limits without the insurer’s consent? More critically, is there a strategy that would allow the plaintiff and the defendant to agree to settle for more than the policy limits, limit collection against the insurer only, and provide the defendant with a full release and covenant not to execute? This article discusses the answers to these questions and outlines strategies that plaintiffs and defendants can follow to maximize the likelihood of settlement.