More and more, insureds are entering into settlements with claimants/plaintiffs, under which the insured agrees to have a judgment entered against them and to assign to the claimant/plaintiff their rights against the insurer. The insurer is then faced with a judgment that may not reflect the actual exposure to the insured, and may even exceed their policy limits, often with no real ability to challenge the amount of the judgment. Such settlements can occur even if the insurer is defending without a reservation of rights. The three-member panel, consisting of representatives of a National insurer, national coverage counsel, and national policy-holder counsel, will discuss these settlements under different state laws, how insureds can use them to protect themselves from excess exposure, and strategies for insurers to respond to the settlements.