When Your Insurer Goes Bankrupt — And No One Tells You

Law360, New York (June 27, 2012, 1:28 PM EDT) -- "Does an insurance broker, after procuring an insurance policy for a developer on a construction project, owe a duty to apprise a subcontractor that was later added as an insured under that policy of the insurance company's subsequent insolvency?"

In this issue of first impression in California, the Fourth District Court of Appeals said "no." Pacific Rim Mechanical Contractors Inc. v. Aon Risk Insurance Services West Inc. --- Cal.Rptr.3d ----, (Cal.App.4 Dist.).

A quick background: Developer Bosa Development California Inc. engaged insurance broker Aon to obtain...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.