Time's Not Necessarily Up

Statutes of limitations are not absolute. Whether they call it "equitable tolling" or the "discovery rule," many plaintiffs' attorneys essentially are asking judges to disregard the statutes designed to prevent consideration of stale matters. Even though the claim is asserte...

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Bibliographic Details
Published inWARDSAUTO Dealer Business Vol. 46; no. 1; p. 20
Main Author Charapp, Michael
Format Trade Publication Article
LanguageEnglish
Published Overland Park Informa 01.01.2012
Subjects
Automobile dealers
Discovery rule
Insurance companies
Insurance coverage
Insurance policies
State court decisions
Statutes of limitations
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Summary:Statutes of limitations are not absolute. Whether they call it "equitable tolling" or the "discovery rule," many plaintiffs' attorneys essentially are asking judges to disregard the statutes designed to prevent consideration of stale matters. Even though the claim is asserted years later, the dealer can request coverage for defense and indemnification. That request, if made expeditiously after knowledge of the existence of the new legal action, probably will implicate the coverage of the policy in effect when the claim arose. If you fail to make a claim that you should have made, you may face an insurer saying it was prejudiced by your failure to promptly report a claim, possibly justifying a refusal to provide coverage. If you are unsure, put all potentially liable prior insurance carriers on notice for all coverage periods alleged in the lawsuit.
ISSN:2373-1974