Insurance Brokers Should Brace For Sandy Suits After NY Ruling
Law360, New York (November 26, 2012, 8:54 PM EST) -- By ruling last week that policyholders who haven't read their insurance policies still have the right to sue their brokers, New York's high court may have invited more businesses and property owners with heavy losses from Hurricane Sandy to lash out against brokers for not securing the coverage they expected, experts say.
In a 4-2 decision, the New York Court of Appeals held that policyholders' failure to review coverage does not bar them from suing their insurance agents and brokers over insufficient coverage, though agents may still argue that that failure leaves the policyholders sharing some blame.
Matthew Guilbault, the director...
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