Practically all courts recognize that, for liability policies for third-party coverage, an insurer owes a duty to its insured to act in good faith and without negligence because:
A. Insured has waived its right to damages in excess of the policy limits.
B. Insured has relinquished the valuable right to settle or defend the action.
C. Insurer generally has superior financial resources available to it.
D. Insurer uses its own attorneys to pursue legal action on behalf of the insured.