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Revision (Section 34) [i] (2016)

handle is hein.ali/aliliabil0020 and id is 1 raw text is: Liability Insurance TD No. 1 - Revision Section 34 In response to suggestions from Members and a motion, the Reporters have revised the black letter of Section 34 clarifying the drafting intent, as reflected in the Comments to Section 34. § 34. Insurance of Liabilities Involving Aggravated Fault (1) liability insurance policy may cover defense costs incurred in connection with any legal action, including but not limited to: a criminal prosecution; an action seeking fines, penalties, or punitive damages; and an action alleging criminal acts, intentionally caused harm, fraud, or other conduct involving aggravated fault. (2) r liability insurer may pay damages to a third-party claimant for the civil liability of the insured for criminal acts, intentionally caused harm, fraud, or other conduct involving aggravated fault. If insulating the insured from the financial consequences of such liability would contravene the public purpose of the imposition of liability, the insurer may seek indemnification from the insured for any amounts the insurer paid to or on behalf of the claimant.

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