The Supplementary Payments Provision (Part 2)
Today’s blog post is the second video in a two-part series by Miller Friel attorney Tab Turano discussing the importance of the supplementary payments provision in general liability policies. This clause is designed to cover a number of ancillary liabilities faced by companies that are dragged into litigation and forced to go to trial, including awards of plaintiffs’ attorneys’ fees, interest awarded by the court, and the costs associated with appeal bonds. The video highlights, by way of example, how policyholders may rely upon the supplementary payments clause to collect far more than policy limits of liability – often times, ten, twenty, or more times the policy’s limit of liability. Also addressed are insurers’ recent attempts to curtail this all-important coverage.
Please watch the video to learn more, or Contact us if you have any questions.
To see the first half of this video, visit: The Supplementary Payments Provision, Part 1.