Common use of Consent to Settlement Clause in Contracts

Consent to Settlement. The Insurer will not admit liability for or settle any claim in respect of which the Insurer is liable to indemnify any Insured without the prior consent of the Practitioner. If the Insurer wishes a claim to be settled but the Practitioner refuses consent, the Insurer will brief Queen's Counsel or Senior Counsel (to be mutually agreed or, in default of agreement, to be selected by the Chairman of the Victorian Bar Council) to advise on whether or not the claim against the Insured has reasonable prospects of success. If counsel's advice is that the claim has reasonable prospects of success, the Insurer shall be at liberty to take such steps as are mutually agreed to settle the claim on terms to be mutually agreed or, in default of agreement, such steps and such terms as counsel advises having due regard to the interests of both the Insured and the Insurer (and the Insured will be deemed to have consented to the Insurer taking such steps on behalf of the Insured) . Counsel's fee will in each case be payable by the party against whose contention counsel advised.