SETTLEMENT PROVISIONS. The Insurer will not settle or compromise any Claim without the consent of the Insured. If, however, the Insured refuses to consent to a settlement or compromise recommended by the Insurer and acceptable to the claimant and elects to contest such Claim or continue legal proceedings in connection with such Claim, then the Insurer's liability for the Claim shall not exceed the amount for which the Claim could have been so settled plus Claim Expenses incurred up to the date of such refusal subject to the applicable limit of liability under this policy.
Appears in 3 contracts
Sources: Architects and Engineers Professional Liability Coverage Form, Architects and Engineers Professional Liability Coverage Form, Contractors Professional Liability Coverage Form