Podcast
Questions and Answers
What action must an insurer take if they do not accept a demand according to CCP §999.3?
What action must an insurer take if they do not accept a demand according to CCP §999.3?
- Notify the claimant of its decision orally
- Accept the demand within three days
- Notify the claimant in writing of its decision (correct)
- Provide an explanation after the demand expires
What criteria must a demand meet to be considered a reasonable offer to settle?
What criteria must a demand meet to be considered a reasonable offer to settle?
- It should be addressed only to the insurance representative.
- It must substantially comply with CCP §999.1-5. (correct)
- It must comply with the material terms in CCP §999.1 only.
- It must be sent to the Department of Insurance directly.
Which types of claims does CCP §999.5 apply to?
Which types of claims does CCP §999.5 apply to?
- Claims related to commercial disputes
- Automobile and wrongful death claims among others (correct)
- Only personal injury claims
- Medical malpractice claims exclusively
What must be included in a time-limited demand according to CCP §999.1?
What must be included in a time-limited demand according to CCP §999.1?
What is the insurer allowed to request during the time to accept a demand?
What is the insurer allowed to request during the time to accept a demand?
What is the minimum time period for accepting a time-limited demand by email, fax, or certified mail?
What is the minimum time period for accepting a time-limited demand by email, fax, or certified mail?
Which of the following statements is true regarding extracontractual damages?
Which of the following statements is true regarding extracontractual damages?
Which designation should be included in a policy limit demand to comply with CCP §999.1?
Which designation should be included in a policy limit demand to comply with CCP §999.1?
Which of the following is NOT a required material term in a time-limited demand under CCP §999.1?
Which of the following is NOT a required material term in a time-limited demand under CCP §999.1?
What liability does an insurer face if it fails to accept a reasonable settlement offer within policy limits?
What liability does an insurer face if it fails to accept a reasonable settlement offer within policy limits?
What happens if an insurer fails to accept a reasonable settlement offer in terms of protecting the insured?
What happens if an insurer fails to accept a reasonable settlement offer in terms of protecting the insured?
What is one factor that should NOT be included in evaluating a reasonable settlement demand?
What is one factor that should NOT be included in evaluating a reasonable settlement demand?
In what circumstance would an insurer likely face legal consequences regarding policy limits?
In what circumstance would an insurer likely face legal consequences regarding policy limits?
CCP §999 section does not apply to a claimant that is not represented by counsel.
CCP §999 section does not apply to a claimant that is not represented by counsel.
We can still open the policy and claim extracontractual damages from a defendant even if our policy limit demand did not comply with CCP $999.
We can still open the policy and claim extracontractual damages from a defendant even if our policy limit demand did not comply with CCP $999.
Flashcards are hidden until you start studying
