Self-Insured Companies Are Not “In the Business of Insurance”

November 20th, 2015|Categories: Alexis P. Theriault, Insurance|

Self-insured companies are not in the business of insurance, said the First Circuit recently in Bingham v. Supervalu. This is significant, because Chapter 176D of Massachusetts law prohibits those “in the business of insurance” from failing to promptly and equitably settle claims when liability has become reasonably clear. The penalties for failure to settle