English High Court considers duties of an insurance broker and whether breaches caused the insureds’ loss
A serious fire destroys a number of commercial buildings on one site. The insurers of the destroyed buildings and the destroyed plant/machinery under two separate policies elect to avoid the policies for non-disclosure/misrepresentation.
Without contesting the insurers’ decisions and determining the legal position under the policies, either by way of a settlement or a judgment, the insureds sue the insurance broker in negligence. [Read more…]