Search CompleteMarkets

...was created to reduce the number of lawsuits filed by injured employees. The ...ired to carry workers’ compensation insurance coverage for farm laborers. How...

... to read their policy. If they weren't satisfied with the amount of coverage provided, the failure to read this policy would be greater negligence' than the negligence of the broker. The Appellate Division ruled that this was an issue for jury consideration based on existing decisional law. The Supreme Court indicated that inasmuch as the broker stands in a fiduciary relationship to the insured, brokers may not diminish their liability under the comparative negligence act when the alleged negligence of the client relates to the past for which the professional was hired. That ... this article centers on a New Jersey ruling, it highlights the potential for exposure in all states. Our subsequent conversation revealed a simple method of avoiding this E&O issue. See our remarks at the end of this article about how to protect yourself In a malpractice suit against an insurance broker by its customer, the New Jersey Supreme Court decided that insurance brokers may not rely on a customer's failure to read his insurance policy as the basis of a defense of comparative negligence. Aden v. Fortish, 169 N.J. 64 ... 2001) Before this decision, there have been numerous decisional pronouncements that an insured had an obligation to read the policy provided to them. Indeed, the Appellate Division had upheld the right of an insurance producer to raise the issue of comparative negligence, and had held that the issue was one for the jury to decide in the context of comparing the negligence of two parties and determining proximate cause. In Aden v. Fortish, a fire damaged a condominium owned by the plaintiff and the condominium association's policy failed to cover the damage ...

...t's cadre of experts, together with lawyers and public accountants. Without a ...ture looks bright for the specialty insurance program consultant who has a suc...

...ration based on existing decisional law. The Supreme Court indicated that inas...t they chose the specific amount of insurance. Granted, this course of action ...

...ector. Paula is concerned about the law or ordinance exclusion, debris removal...st decade, the relationship between insurance company and agent has changed dr...

... the employee and employed him in conscious disregard of others' rights, (b ) authorized or ratified his conduct, or (c ) was personally guilty of fraud, malice or oppression. Civil Code Section 3294. Punitive damages cannot be covered by insurance under California law. Damages for intentional acts may or may not be covered by a particular liability policy, depending on exactly what was intended and the terms of the policy involved. If an agent makes a mistake, he should not make things worse by trying to cover it ... The defense of comparative fault (contributory negligence) is available, and can reduce damages if the client is also at fault (for example, by failing to give the agent all the facts) . Punitive damages are not allowed for simple negligence. Cases involving legal malpractice have allowed no emotional distress recovery for simple negligence or breach of contract, if only economic damages result, since the emotional distress is no different than what is ordinarily experienced in litigation. Smith v. Superior Court (1992) 10 Cal.App.4th 1033, 13 Cal.Rptr.2d ... O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Legal Outline For California Agencies - Chapter 4 4/30/2013 10:39:41 PM by CompleteMarkets Editor This content has not been rated yet. LEGAL OUTLINE FOR CALIFORNIA INSURANCE AGENCIES CHAPTER FOUR LITIGATION, LIABILITY INSURANCE, AND DISPUTE RESOLUTION 4.1 Risks posed by litigation. Litigation is a major threat to an insurance agency. Many potential claims are uninsurable in California, such as punitive damages claims. Substantial deductibles are often necessary to make coverage ...

...pply to insurance agents as well as lawyers in cases involving simple negligen...rceable under both California and U.S. law, unless they can be attacked for gr...

... then the carrier doubled its sports car rates and practically put me out of business. Also, his lines of business are sensitive to changing legislation. The notary public bonds and used-car dealer bonds are required by the state, ' he explains. If the Legislature changes the law, it could put us out of those lines of business overnight. Despite the potential problems, Everhart continues to look for niche markets. His most recent product line, personal watercraft protection, is almost five years old-so it's time to develop a new one. It's ... went to bat for them. VFIS writes all lines of business except workers' compensation' for volunteer fire departments and emergency service organizations. Available coverages include injury-to-firemen liability, accident and sickness, vehicle agreed value for engines, errors and omissions liability, pollution liability, medical malpractice, bonding and others. VFIS currently insures more than 500 Texas volunteer fire departments and emergency service organizations, Regnier says, primarily in Houston , Dallas and San Antonio/Austin regions. The average premium is about $9 ,000, with some departments paying ... highly specialized, changes in market conditions, legislation or regulations can erase them quickly. And agents entering new niche markets must spend time learning specialized rules as well as the workings of the industry they are writing. Perhaps most important, there must be genuine need for insurance in the target market. Still, with a little homework, agents can identify potential niche markets, find interested carriers, launch their own programs-and kiss competition good-bye. Open Doors For Ward Insurance Agency of Gatesville, opportunity did more than just knock. It walked ...

...ns. 'If the Legislature changes the law, it could put us out of those lines of...

...d in a corporation's articles and bylaws and in shareholder buy/sell agreement...are exposed to possible loss through a lawsuit? Is additional coverage needed ...