Who has to pay jury awarded damages in Florida in excess of their insurance policy limits?
If you have a judgment against a person or corporation, they’re liable for the full amount of the judgment even if it exceeds their insurance limits. Unfortunately, it’s frequently difficult to recover the amount that’s not covered by insurance. The insurance company’s exposure is limited to the policy limits unless they handle the claim in bad faith. If they handle the claim in bad faith by failing to settle it when they could have and should have done so, the insurance company itself can be liable for the entire amount of the judgment.