Mo. Supreme Court Limits Duties Of Insurance Brokers

Law360, New York (March 7, 2012, 4:34 PM EST) -- The Missouri Supreme Court said Tuesday that insurance brokers don't generally have to deliver the best-priced insurance available or disclose insurer-paid commissions but revived Emerson Electric Co.'s suit alleging broker Marsh USA Inc. owed Emerson a greater duty under their particular relationship.

The court found Missouri law requires the Marsh & McClennan Cos. Inc. unit and other brokers to use “reasonable skill, care and diligence in procuring insurance” for clients like Emerson but said brokers aren't obligated to locate the cheapest policies available. State law also...
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