Acordia Wins Reversal Of Conn. Preferred Insurer Case

By Gavin Broady (August 26, 2013, 3:26 PM EDT) -- The Connecticut Supreme Court on Monday reversed the state attorney general's win in a suit accusing insurance broker Acordia Inc. of misleading consumers about a preferred insurer program, saying the lower court erred in relying on Acordia's alleged fiduciary duty.

The state's top court flipped a Connecticut Superior Court ruling finding Acordia breached the Connecticut Unfair Insurance Practices Act after determining that a claim under that statute cannot be premised on the common law principle of fiduciary duty.

The Superior Court was therefore wrong to lean on a consideration of that principle in its April 2010 ruling that Acordia was obligated...

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