(Download) "Oregon Mutual Insurance Co. v. Gibson" by Court of Appeals of Oregon # Book PDF Kindle ePub Free
eBook details
- Title: Oregon Mutual Insurance Co. v. Gibson
- Author : Court of Appeals of Oregon
- Release Date : January 09, 1987
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 60 KB
Description
Third-party plaintiffs Johansson, Alexander and Lee (plaintiffs) were injured while riding as passengers in a dune buggy driven by Oregon Mutual Ins. Co.s (Oregon Mutual) insured, Gibson. They brought an action against Gibson, asserting claims of negligence and reckless conduct. Gibson was defended by an attorney retained by Oregon Mutual. The action was settled by a stipulated judgment for Johansson for $1,500,000. Oregon Mutual agreed to pay $1,000,000 from its umbrella liability coverage. Gibson agreed to assign to Johansson all of his claims against his insurance agents, third-party defendants (defendants), for failure to procure adequate insurance. In exchange, plaintiffs executed covenants not to execute and not to sue Gibson beyond the $1,000,000 umbrella liability coverage.
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