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Insurance Industry › Insurance Brokers › Fiduciary Duty

Skadden, Arps, Slate, Meagher & Flom LLP

UK Supreme Court Clarifies Rules on Fiduciaries, Bribery and Disclosure

Skadden, Arps, Slate, Meagher & Flom LLP on

Improper inducement or legitimate distribution fee? The UK Supreme Court’s landmark ruling clarifies the rules on intermediaries that are common to the supply chain of almost all financial services....more

Marshall Dennehey

Court Reiterated Prevailing Standard in Pennsylvania for Establishing Existence of ‘Special Relationship’ Between Insurance...

Marshall Dennehey on

Mohanan, et al. v. Liberty Mutual Personal Insurance Company, 2023 WL 8026106 (E.D. Pa. Nov. 20, 2023) - The court granted the defendant’s motion to dismiss to strike references to a “special relationship” owed to the...more

Rivkin Radler LLP

Insurance Update - January 24, 2023

Rivkin Radler LLP on

It was a busy end to the year, as courts handed down several key insurance decisions before ringing in 2023. The Ohio Supreme Court considered the contours of “direct physical loss or damage” in two separate decisions –...more

Winstead PC

Insurance Broker Does Not Ordinarily Owe Fiduciary Duties To A Client

Winstead PC on

In Hitchcock Indep. Sch. Dist. v. Arthur J. Gallagher & Co., a school district sued it insurance broker for failing to obtain insurance policies that did not have arbitration and choice-of-law clauses that favored New York....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Construction One-Minute Read: What If Your Insurance Carrier Negligently Provides Insufficient Coverage?

Ogletree, Deakins, Nash, Smoak & Stewart,... on

On October 18, 2018, the Illinois Supreme Court clarified when the statute of limitations begins to run on a claim for negligent procurement of insurance by an insurance agent or broker. In American Family Mutual Insurance...more

A&O Shearman

New York State Department of Financial Services Proposes Fiduciary Standard for Insurance Brokers

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The New York Department of Financial Services published a proposed amendment which would require insurance brokers to offer products that align with a customer’s “best interest,” instead of products that offer the most...more

Carlton Fields

New York Federal District Court Dismisses Third Party Claim Against Insurance Brokerage Service

Carlton Fields on

In what the court termed a “risk-free reinsurance scheme [that] proved anything but,” a New York federal court dismissed a third-party claim against the insurance brokerage service that put the two parties to the insurance...more

Carlton Fields

A Summary of Predicted Litigation Under the DOL’s Proposed Fiduciary Rule

Carlton Fields on

The Department of Labor’s recent Proposed Rule, which defines the term "fiduciary" as it applies to persons who provide "investment advice" to ERISA plans and IRAs, will impact the likelihood and severity of fiduciary...more

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