This article was originally published in Daily Journal on January 4, 2023.
On January 1, 2023, a new California law, Code of Civ. P. § 999, et seq., took effect. This law sets forth various requirements that a policy "time-limited demand" must meet to justify a "bad faith refusal to settle" claim in the event the liability insurer does not accept it.
Jordan Derringer and Michael Bean discuss some of the key provisions of this new statute along with some points that insurers should consider when evaluating time-limited demands.
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