What is a hammer clause?
Also known as a cooperation clause. A provision commonly found in employment practices liability insurance (EPLI) policies that penalizes the insured employer for refusing to consent to a financially reasonable settlement offer that the insurer was willing to accept.
What is the hammer policy?
A hammer clause is an insurance policy clause that allows an insurer to compel the insured to settle a claim. A hammer clause is also known as a blackmail clause, settlement cap provision, or consent to settlement provision.
[PDF] ENDORSEMENT - Chubb
ENDORSEMENT - Chubb www chubb com/content/dam/chubb-sites/chubb-com/ca-en/business-insurance/not-for-profit-liability/documents/ pdf /not-for-profit-enhancement-endorsement-ce-14-02-18880 pdf NOT FOR PROFIT ENHANCEMENT ENDORSEMENT Table of Contents Page 1 AMEND HAMMER CLAUSE 3 2 ADD SEPARATE LIMIT OF LIABILITY DEDICATED FOR INSURED PERSONS
[PDF] A professional liability claim can have disastrous financial
A professional liability claim can have disastrous financial sites hanover com/linec/docs/119-0114 pdf Full Hammer Clause Soft Hammer Available Claim Settlement Authority Up to the deductible No claim settlement authority Prior Acts Coverage
[PDF] Commercial General Liability Guide - Hanover Insurance
Commercial General Liability Guide - Hanover Insurance sites hanover com/linec/docs/114-10042 pdf Limited Consent to Settle Optional Endorsement (70/30 hammer clause) / Punitive Damages Endorsement* / Worldwide Defense Optional Endorsement (excludes
[PDF] HudsonPro® Professional Liability - Hudson Insurance Group
HudsonPro® Professional Liability - Hudson Insurance Group hudsoninsgroup com/wp-content/uploads/sites/2/2021/07/HudsonPro-Professional-Liability-InsureWare-Marketing-Kit pdf settle if First Named Insured objects; 50 hammer clause applies ☑ □ Optional endorsement for first dollar defense Optional CyberInfusion First-Party
[PDF] Contractor's General Liability – 11 Common Coverage Limitation
Contractor's General Liability – 11 Common Coverage Limitation www amwins com/docs/default-source/insights/contractor-s-general-liability-11-common-coverage-limitation-endorsements sfvrsn=7a938505_1 If removal of such endorsements is not possible every effort should be made to avoid the first type of penalty (hammer clause) (continued on next page)
[PDF] Developing Contract-Dependent CGL Coverages For Named And
Developing Contract-Dependent CGL Coverages For Named And www theclm org/File/DownLoad?type=18&fileName=0ab4afb3_4576_4f0d_a24a_7522dda506bf pdf &userFileName=Session 203 20- 20Developing 20Contract-Dependent 20CGL 20Coverages pdf An example of one such hammer clause states: INDEPENDENT CONTRACTORS LIMITATION OF COVERAGE This endorsement modifies insurance provided under the
[PDF] allianz cyber evolutionar - the evolution of cyber coverage
allianz cyber evolutionar - the evolution of cyber coverage www agcs allianz com/content/dam/onemarketing/agcs/agcs/countries/agcs-usa/marketing-brochures/AGCS-North-America-Cyber-Coverage pdf Media Liability (available by endorsement) and FinTech companies (by endorsement) Generous 70/30 “Hammer Clause” built into base form
[PDF] The Basic Types of Policies and Coverages - Law Catalog
The Basic Types of Policies and Coverages - Law Catalog www lawcatalog com/media/productattach/i/n/insurance_coverage_chapter_1-r32 pdf “other insurance” clauses of liability insurance policies See § 14 06 infra “hammer clause” obligates the insured to assume the defense of the
[PDF] Employment Practices Liability Insurance Policies and Coverage
Employment Practices Liability Insurance Policies and Coverage www lanermuchin com/media/news/27_NovDec17_Feature-EPLI pdf and EPLI coverage purchased as an endorsement to another insurance policy such as a CGL or amount to settle a claim an EPLI policy's hammer clause may
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