INSURANCE BROKER LIABILITY CLAIMS

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In New York, if you insurance agent or broker fails to obtain the insurance coverage you requested, or gives incorrect information the coverage that is actually available, that insurance broker may be liable in the event of an uncovered loss.  Insurance brokers make mistakes and in many situations they can be held responsible.The laws pertaining to "Failure to Procure" or "Negligence in a Special Relationship" can, in many instances, require the insurance broker to pay for an uncovered loss.  Insurance brokers most often carry "Errors & Omissions Insurance" to cover them in the event of such a claim.   ​

The Long Island New York lawyers at AGULNICK KREMIN have a successful history of recovering money where an insurance broker has been negligent in their responsibilities, by way of making one mistake or another.  That means the broker can be required to cover your loss in a similar manner to the way an insurance company would.  ​At AGULNICK KREMIN, our goal is to obtain the maximum recovery in cases throughout New York where an insurance broker is negligent and as a result, you are left uninsured or underinsured for a particular loss.  ​The litigation of an action against an insurance broker involves a combination of a common law negligence case with an action involving what amounts to an insurance claim.  

​Significantly, the 2013 Court of Appeals has even held in American Building Supply Corp. v. Petrocelli Group that a policyholder's failure to review the policy prior to the loss is not an absolute defense to liability.  This provides recourse to those countless policyholders that merely file their policy away, believing their insurance broker has acted properly. Contact us for a free consultation.