11th Circ. Follows Fla. Court's Lead On Economic Loss Rule

Law360, New York (April 16, 2013, 6:30 PM EDT) -- The Eleventh Circuit on Tuesday revived a condominium association's suit seeking damages from insurance broker Marsh & McLennan Cos. Inc. for allegedly failing to secure an adequate policy, following guidance from the Florida Supreme Court last month finding that the economic loss doctrine doesn't apply.

The economic loss doctrine typically prevents plaintiffs from pursuing tort claims over financial losses stemming from a contract — in this case an insurance policy for a Sugar Island, Fla., condominium tower that suffered extensive wind damage from two hurricanes in...
To view the full article, register now.