Insurer Gets $1M In Alleged Claim Mishandling Trial

Law360, Miami (February 24, 2016, 10:13 PM EST) -- Guarantee Insurance Co. will ultimately score $1 million after a Florida federal jury concluded Wednesday that the company’s insurance agent and broker acted negligently in handling an underlying workers’ compensation claim, forcing the insurer to fork over its own funds to settle a resulting lawsuit.

U.S. District Judge Jose E. Martinez reduced the $2 million award handed down by the jury based on the finding that Guarantee’s own negligence contributed to the mishandling of the claim that spurned the suit alleging that Heffernan Insurance Brokers Inc. and Socius Insurance Services Inc. failed to timely notify Guarantee’s excess carrier insurer, said Guarantee’s...

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