https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/623/E-O-Failure-To-Read-A-Policy-Is-No-Defense/
... 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 ...
https://completemarkets.com/Article/article-post/623/E-O-Failure-To-Read-A-Policy-Is-No-Defense/
...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 ...
https://completemarkets.com/Article/article-post/2419/Positioning-Is-An-E-O-Issue/
...ector. Paula is concerned about the law or ordinance exclusion, debris removal...st decade, the relationship between insurance company and agent has changed dr...
https://completemarkets.com/Article/article-post/1856/HOW-MUCH-CAN-YOU-RELY-ON-YOUR-CONSULTANTS-LAWYER/
...h Can You Rely On Your Consultant's Lawyer?
HOW MUCH CAN YOU RELY ON YOUR CONSULTANT'S LAWYER? by Gary Lawson, JD, LLM, Bruce Campbell, JD, an...ion information service of risk and insurance topics. For a sample free trial...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/2015/LIMITED-LIABILITY-COMPANIES-WHAT-YOU-NEED-TO-KNOW/
... goodwill for less than its fair market value. In this manner, an insurance agency can effectively transfer a book of business to the LLC (helpful in a variety of situations, as explained later) . YOUR STATE LLC ACT An in-depth discussion of your local LLC laws is beyond the scope of this article, particularly since each state statute is slightly different. One should never attempt to change your status without the help of an experienced business attorney. However, a brief overview may be helpful. Many states have what is known ... that LLCs aren't the same as limited liability partnerships (LLPs) . LLPs are mostly for classic professional' firms, such as those comprised of CPAs or attorneys. They don't protect members from commercial-type debts, such as a premises lease, or from their own professional malpractice; but they do provide protection from cross-liability for E&O and torts of the LLP's other participants. Your clients-and you-can benefit from LLCs in a number of ways: Consider using one instead of a partnership or sole proprietorship to hold real estate (such as ... the flexibility and tax advantages of a partnership. However, along with those benefits and flexibility comes its inevitable corollary: complexity. The very fact that you have so much flexibility means that you're dealing with a complex entity. Every agent in the Commercial Property/Casualty insurance marketplace is seeing a steadily increasing number of clients organized as LLCs. To serve them properly and avoid E&O exposure, agents needs to know the basics of LLCs. It's also nice to be aware of their additional sales opportunities! Agency owners can also ...
https://completemarkets.com/Article/article-post/164/Windows-Of-Opportunity/
...ns. 'If the Legislature changes the law, it could put us out of those lines of...
https://completemarkets.com/Article/article-post/545/Professional-Services-Marketing-A-Strategy-For-Providing-Client-Satisfaction/
... the provider of the service as 'my lawyer,' 'my accountant,' or 'my doctor,' ...interests being first (rather than the lawyer's), and this will free up the lawyer from performing low-margin work....