MGK: You make assumptions regarding the policy lim
Post# of 154098
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Posted On: 07/17/2023 11:55:35 PM
MGK: You make assumptions regarding the policy limits that Amarex carried at the time of the loss that I cannot share because my prior experience gives me no clue what policy limits a CRO would typically have. The fact that Sidley is seeking > 100 million does not mean that Amarex has more than 100 million in coverage. It may have that much coverage or more, but I would be very pleasantly surprised if that were the case. Also, the fact that a hearing date has been requested does not mean that a decision or settlement is near at hand.
I would suggest that we all wait for more detailed info on policy limits and timing to a decision before counting any money. Settlements can always be negotiated quickly and unexpectedly, but they usually occur before suit is commenced or very close to a decision date, and here a decision by the arbitrator could easily be several months away (another unknown, but significant detail).
Sorry I can't be more helpful.
I would suggest that we all wait for more detailed info on policy limits and timing to a decision before counting any money. Settlements can always be negotiated quickly and unexpectedly, but they usually occur before suit is commenced or very close to a decision date, and here a decision by the arbitrator could easily be several months away (another unknown, but significant detail).
Sorry I can't be more helpful.
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