WebSep 18, 2024 · ISO has filed a Miscellaneous Professional Liability Policy, ... If consent to settle is not provided, then a hammer clause — with an unusual aspect — kicks in. The insurer is only liable for ... WebJun 1, 2009 · Generally found in professional liability, errors and omissions and executive liability coverage forms, insurance industry practitioners affectionately refer to the entire consent to settle clause as the "hammer clause;" mostly because one small part acts to "hammer" the insured into compliance with the insurance carrier's desire to settle a claim.

I am a freelance journalist. Do I need to buy liability insurance?

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10 Facts about the Hammer Clause within Insurance Policies

WebDec 17, 2024 · CNA unit Continental Casualty had issued a professional liability policy to Mr. Lala that contained a consent-to settle clause. But the coverage did not contain the “hammer clause” found... WebNov 14, 2024 · Hammer clauses offer a logical way to avoid going to trial and resolve the issues without incurring legal fees and other costs. Why Small Businesses Need to Know … WebNov 13, 2024 · No “hammer” clauses: Some professional liability insurance contracts include what’s known as a “hammer clause,” in which the insurer can compel the insured to settle a claim. In some cases, insurance companies may pressure their policyholders to settle as early as possible, just to avoid escalating defense costs. reach breaking point