Karen WOOD and Frederick Wood, as assignees of Alfonzia Caruso, Plaintiffs-Appellants,
v.
NEW JERSEY MANUFACTURERS INSURANCE COMPANY, Defendant-Respondent.
Supreme Court of New Jersey.https://leagle.com/images/logo.png
Argued May 3, 2011.
Decided June 14, 2011.
Attorney(s) appearing for the Case
Charles M. Crocco, Neptune, argued the cause for appellants (Nelson, Fromer & Crocco, attorneys).
Michael J. Marone, Morristown, argued the cause for respondent (McElroy, Deutsch, Mulvaney & Carpenter, attorneys; Mr. Marone and Richard J. Williams, Jr., on the briefs).
Evan L. Goldman, Hackensack, argued the cause for amicus curiae New Jersey Association for Justice (Schiffman, Abraham, Kaufman & Ritter, attorneys).
Hugh P. Francis argued the cause for amici curiae Insurance Council of New Jersey and Property Casualty Insurers Association of America (Francis & Berry, attorneys).
Supreme Court of New Jersey.
Justice RIVERA-SOTO delivered the opinion of the Court.
Rova Farms Resort, Inc. v. Investors Insurance Co. of America,65 N.J. 474, 323 A.2d 495 (1974), recognized a cause of action against an insurer in those instances where certain circumstances coalesce: where there is a settlement demand within the policy limits, the insurer in bad faith refuses to settle the claim, and the verdict above...
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