Limited policies have limitless horizons due to the selfishness of insurers. Why should insurers accept settlement offers that are close to the policy limits? After all, in most instances the insurers have nothing to lose except the insureds' money. Gambling with insureds' funds has led many to suggest that insurers be absolutely liable for all excess judgments subsequent to a rejection of settlement.
Harry H. Lipsig,
Limitless Horizons of Limited Policies of Insurance,
20 Clev. St. L. Rev.
available at http://engagedscholarship.csuohio.edu/clevstlrev/vol20/iss1/54