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LIRA v. SHELTER INS. CO.

No. 95SC153.

913 P.2d 514 (1996)

Joel LIRA, Petitioner, v. SHELTER INSURANCE COMPANY, a/k/a Shelter Mutual Insurance Company, a/k/a Shelter General Insurance Company, a/k/a Shelter Life Insurance Company, Respondent.

Supreme Court of Colorado, En Banc.

Rehearing Denied April 15, 1996.

Attorney(s) appearing for the Case

Law Office of Neil D. O'Toole, P.C., Neil D. O'Toole, Denver, for Petitioner.

Levy & Lambdin, Professional Corporation, Suzanne Lambdin, Scott P. Landry, Englewood, for Respondent.

Colorado Trial Lawyers Association, Susanna Meissner-Cutler, Denver, McDermott and Hansen, William J. Hansen, Denver, Breit, Bosch, Levin & Coppola, Bradley A. Levin, Denver, Thomas L. Roberts, Denver, for Amicus Curiae Colorado Trial Lawyers Association.

Berryhill, Cage & North, P.C., Mark W. Williams, Denver, for Amicus Curiae National Association of Independent Insurers.

Chief Justice VOLLACK delivered the Opinion of the Court.

We granted certiorari to review the decision of the court of appeals in Lira v. Shelter Insurance Co., 903 P.2d 1147 (Colo.App. 1994), which held that when an insured's only claimed damages are the outstanding punitive damages awarded against him in the underlying suit, the insured may not recover against the insurer for acting in bad faith in failing to settle. We affirm...

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