A New York and New Jersey Lawyer Who Represents Policyholders and Beneficiaries in Life Insurance Denial Cases

Category Archive for 'Insurance Broker Fraud'

A recent WSJ article highlighted a persistent problem that I have previously noted on this blog: universal life insurance policies that become unaffordable for insureds, lapse due to insufficient funds, and leave their estate planning in shreds. The article is by Leslie Scism who writes about the industry for the Journal. Really, it should be […]

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In many ways, New York and New Jersey can be considered almost like two different parts of a single state, at least insofar as North Jersey is concerned. Just as two examples, many NYC commuters live in New Jersey, and the NYC TV stations feature news stories from the Garden State. But when it comes […]

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In Amer. Bldg. Supply Corp. v. Petrocelli, decided by the New York Court of Appeals on November 19, 2012, the plaintiff claimed against its insurance broker that it requested bodily injury coverage for its employees at its Bronx facility, in the event an injury occurred, that the broker failed to procure. This type of coverage […]

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There were a couple items in this last week’s New York Law Journal that merit being mentioned, and I have boiled them down and summarized them for you, the reader. The first is an article entitled “Residency Requirement[s] Under Homeowners Insurance.” It reviews a number of cases for the redundant proposition that in order to […]

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A recent case from the Fourth Department shows how difficult it can be in New York to win a lawsuit against an insurance broker for failing to procure appropriate insurance coverage. (Radford v. Peerless Ins. Co., 2012 NY Slip Op 02244 (Mar. 23, 2012). This situation often arises when the broker does not get high […]

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This month a panel of the Appellate Division, Third Department, upheld a rule promulgated by the New York State Department of Financial Services that requires New York insurance brokers and agents to disclose to consumers whether they receive incentives or other compensation from insurance companies. The decision is matter of Sullivan Financial Group. v. Wrynn. […]

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A New York Supreme Court ruled in favor of an insurance broker who was sued by its client after a workers’ compensation coverage purchase did not turn out as expected, with the insured on the hook for the self-insured trust’s liabilities. The decision, which specifically came out of the Kings County Supreme Court, is Consolidated […]

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A recent decision issued from a Brooklyn trial court serves as a reminder that those New York insurance policyholders who communicate information to an insurance agent, relying on the agent to forward it to the insurance company, will, at the end of the day, be left holding the bag if the agent is negligent. The […]

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New insurance broker disclosure rules are planned to be in effect in New York beginning in January 2011 that would require insurance brokers and agents to disclose to consumers how they are compensated by insurance companies. As I have previously discussed, some insurance companies pay extra commissions to agents based on the number of its […]

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A former Marlton, NJ life insurance agent was indicted and faces criminal charges for forging life insurance applications and automatic withdrawal forms. You can read about it here.

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