Holding Negligent Insurance Broker Liable for Error

Background

A Queens excavator shopped his comprehensive general liability coverage locally and finally placed it through a broker friend -with an out of state carrier. Once claims were made the carrier advised it had no record of any coverage having been procured.

The Challenge

We commenced the process of confirming coverage or proving liability for the broker.

The Solution

During the coverage case it became apparent that the broker had “dropped the ball” and the carrier had been correct in its declination.

The Result

In the end, the E&O carrier for the broker settled with the excavator for $200,000.