Oregon Supreme Court Tosses Out 40 Year Precedent

Anytime the Oregon Supreme Court throws out a 40 year precedent, it qualifies as news. Here is a pertinent excerpt from the The NW Policyholder:

Good news for policyholders today from the Oregon Supreme Court: the court overruled the 42-year-old Stubblefield decision, making it much easier for defendants in litigation to protect themselves if their insurance company fails to reach a reasonable settlement with the plaintiff. Today’s decision in Brownstone
Homes Condo Ass’n v. Brownstone Forest Heights LLC means that a policyholder may more easily reach an agreement with the plaintiff to resolve the litigation and allow the plaintiff to go after insurance assets. Oregon has now joined the majority of states that allow policyholders to enter into these “covenant judgment” agreements without jumping through a series of hoops that are fraught with peril.

Read more here.

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