The New York Court of Appeals recently found that the insured’s failure to read the insurance policy does not bar claims for broker negligence in failing to procure requested insurance. Almost one hundred years ago the New York Court of …
William Gibson coined the phrase “cyberspace” in his popular science fiction novel “Neuromancer” “to describe the real and cultural dynamics of people and machines working within the confines of computer-based networks.” Alexander C. Gavis, The Offering and Distribution of Securities …
The question of whether insurance brokers are required to obtain the lowest cost insurance that meets the insured’s needs was answered recently by the Missouri Supreme Court in the case of Emerson Electric Co. v. Marsh & McLennan Cos., 362 …
Forty years ago the New Jersey Supreme Court in Rova Farms Resort, Inc. v. Investors Ins. Co. of America, 65 N.J. 474, 323 A.2d 495 (1974), recognized a cause of action against an insurance company in situations where the insurer …
Insurance binders are contracts of temporary insurance pending the issuance of a formal policy or proper rejection of the application by the insurer. The binder serves only as a temporary or interim policy until a formal policy is issued. Once …
The insurance agent told his client to “read the policy.” It was simple but important advice. More likely than not, the client did not heed the advice. When the insurance policy was received it was probably tossed in a drawer …
It has often been said that every attorney has a little larceny in his heart. In similar fashion, it could be said that every insurance agent has a little puffery in his heart regarding his book of business, background and …
Insurance agents can be sued by their clients for breach of contract or negligence when they fail to procure appropriate insurance coverage. Generally, an insurance agent or broker who undertakes to procure insurance for a client owes an obligation to …
Systems, Checklists, Guidelines, Manuals Among Tools Useful in Reducing Agency Errors I have been an insurance broker since 1974. However, my principal occupation is attorney, practicing in insurance law. I have had many conversations with insurance agency managers, insurance agents …
I have been an insurance broker since 1974. However, my principal occupation is attorney, practicing in the field of insurance law. I have had many conversations with insurance agency managers, insurance agents and customer service representatives (CSRs) regarding their many …
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