More details to this question:
Reached a settlement with at fault party for policy limits, they have declared the driver had no other known insurance. I’m dealing with the owner of the car auto insurance. My question is I assume their insured told them no other insurance is available. My question is what if this is found to be a lie, and it was possible other coverage existed but I had settled because the release attested to no know coverage was available. (I know they told their insurer none was because they told my UIM coverage person no other policies was available. What if it’s found out later coverage or other insurance was available is their any recourse? What about the UIM coverage should they know or should I wait till after I settle to tell them?
2 ANSWERS
Consumer Debt Collector Harassment & Abuse Attorney serving Tampa, FL
Partner at
Tischhauser Law Group
2 Awards
That is always the risk you take. If there is some fraud involved, there might be remedy but you would have a huge amount of legal work needed to address that meaning you would have to have substantial injuries to justify the legal effort. Bear in mind you have to have permission from your UM carrier to settle the case, because THEY waive thier rights to collect from the at fault parties collectively if they say yes, so they have a vested interest in finding that coverage also. If you are trully worried about it, you can get your own or ask your lawyer to do an independent asset investigation, but understand if it turns up nothing, you simply end up paying more out of your settlement costs.
Answered on Jan 11th, 2021 at 2:24 PM
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A release that is procured by fraud can be rescinded.
Answered on Jan 09th, 2021 at 7:38 PM