Seyferth Blumenthal & Harris LLC (SBH) attorney Nick Daugherty recently authored an article published with Insurance Journal, considered the most-read national property and casualty publication for independent insurance agents and brokers.
In the article, Daugherty details a change in a Missouri state statute that assists insurers in dealing with a contractual duty to act in good faith in its attempt to protect an insured from a court judgment in excess of policy limits, especially when multiple claimants are involved. However, the state’s recent amendment to its interpleader statute may provide significant protection to insurance companies against such bad faith claims arising from the defense and settlement of multiple claims against the insured.
Insurers can now interplead the policy limit into the court, which takes on the role of distributing to the appropriate parties.
The full article, entitled “Missouri Statute Update Shields Insurers from Certain Bad Faith Litigation,’” can be read at this link.
Daugherty’s practice at SBH focuses on commercial litigation and counseling in all stages of litigation, with an emphasis on insurance-related issues. He represents insurers in various coverage-related cases.