SC Justices Nix Arbitration Of Insurance Agent Fraud Suits
Law360 (April 10, 2019, 8:43 PM EDT) -- South Carolina’s highest court ruled Wednesday that a trio of insurers cannot force arbitration of a slew of suits alleging they failed to prevent one of their licensed agents from bilking policyholders and stifling competition.
In a unanimous opinion, the South Carolina Supreme Court flipped an appellate court ruling and said Peerless Insurance Co., Montgomery Mutual Insurance Co. and Safeco Insurance Co. cannot invoke a clause in their agency agreement with Anderson, South Carolina-based Southern Risk Management Services LLC to compel arbitration of 14 related fraud suits filed by either Southern Risk customers or competing insurance agents.
According to the state...
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