Fla. High Court Limits Tort Claims Doctrine In Marsh Suit
By Bibeka Shrestha (March 7, 2013, 7:27 PM EST) -- A deeply divided Florida Supreme Court ruled Thursday that the economic loss doctrine applies only to product liability cases, siding against insurance giant Marsh & McLennan Cos. Inc. and potentially opening the floodgates to more tort claims in the state.
The Eleventh Circuit had merely asked the Florida high court to decide whether insurance brokers could use the doctrine to crush tort claims brought by policyholders who have suffered only economic losses through their relationships with brokers.
With some exceptions, the economic loss doctrine bars plaintiffs from launching tort claims over financial losses stemming from a contract — a rule designed...
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