A hammer clause is an insurance contract condition that limits the amount an insurer has to pay in a lawsuit if an insured refuses to approve a settlement offer.
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
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[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
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[PDF] Developing Contract-Dependent CGL Coverages For Named And
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[PDF] allianz cyber evolutionar - the evolution of cyber coverage
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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
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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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