California court says claimant can't undo Farmers policy-limits settlement
Insurance Business
California court rules a claimant cannot withdraw from a policy‑limits settlement after the insurer has accepted it.Summary
The Fourth Appellate District ruled that a claimant cannot back out of a policy‑limits settlement once Farmers Insurance Exchange accepted the demand in writing and supplied the required declarations. The settlement, based on the $15,000 per‑person bodily injury limit from the Farmers policy, became binding on August 25, 2021, despite the claimant’s later refusal and arguments about an asset declaration. The court ordered the trial court to grant summary adjudication on Farmers’ declaratory relief claim.
(Source：Insurance Business)