> >
Case Name | Workmen's Auto Insurance Co v. Guy Carpenter & Co., Inc. | |
---|---|---|
Date | 05/04/2011 | |
Note | An insurance broker cannot be sued for breach of fiduciary duty, according to a published decision from the 2nd District Court of Appeal. | |
Citation | B211660, c/w B213853 | |
WCC Citation | WCC 37582011 CA |
CERTIFIED FOR PUBLICATION ASHMANN-GERST, J. Workmen's Auto Insurance Company (company) sued Guy Carpenter & Company, Inc. (Carpenter) for negligence, breach of fiduciary duty and breach of contract. After the trial court eliminated the fiduciary duty claim during pretrial proceedings, a jury decided in favor of Carpenter. Carpenter demurred to the breach of fiduciary duty cause of action, and the demurrer was sustained with leave to amend. In 2001, Carpenter negotiated with PMA and secured a finite quota share reinsurance agreement for certain risks covered by the company. *fn4 In the ensuing years, Carpenter breached its fiduciary duties to the company and caused over $35 million in damages.
Download full case here.
Download full case here.