NY High Court Says Policyholder's Broker Suit Not Barred

Law360, Chicago (November 20, 2012, 5:17 PM EST) -- New York state's highest court ruled Monday that a policyholder's failure to read an insurance policy should not necessarily bar recovery in a suit accusing an insurance broker of failing to supply adequate coverage, siding with American Building Supply Corp. in its case against Petrocelli Group Inc.

In a 4-2 decision, the New York Court of Appeals reversed a lower court order and found that the alleged facts of the case — in which American Building says it requested specific coverage of employee injury claims from...
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