fiduciary duty News

Court Affirms Insurer, Agent Have Duty of Care But Not Fiduciary Duty in GEICO Case

A licensed insurance agent, and the insurer she represents, owe a duty of care to a customer to explain coverages but neither the agent nor the insurer has a fiduciary duty to an insured under Connecticut law. U.S. District Judge …

Broker not Liable for Late Notice that Cost Client $1.34 Million

An Illinois construction company that waited six years to inform its excess insurer that it had been sued cannot expect coverage from that carrier, and it can’t go after the insurance brokerage that sold it the policy either, a federal …