Cancelling property insurance with outstanding claims.
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Cancelling property insurance with outstanding claims.
GuideOne is providing legal representation for a lawsuit of ours. If we change insurance companies prior to the suit being settled, will GuideOne still be required to finish out the claim? Could they reduce the amount they are willing to pay for legal fees if we cancel the policy?
Asked on June 23, 2009 under Insurance Law, Pennsylvania
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
I very much doubt that any insurance company could legally change their handling of the case based on anything like that. The duty to defend the lawsuit and pay any judgment (up to the policy limits) is in most states fixed either when the event being sued for happens, or at the latest when the claim is made, depending on the policy language. If the suit is in progress, it probably belongs to GuideOne, whether you continue your insurance with them or not.
For advice you can rely on, please consult an independent attorney (not the one hired by GuideOne to defend the lawsuit) in your area. One place to find a lawyer is our website, http://attorneypages.com
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