• New York Court of Appeals Permits Failure-to-Procure Claim Against Broker Despite Policyholder’s Failure to Read the Policy
  • December 28, 2012
  • Law Firm: Hunton Williams LLP - Richmond Office
  • In American Building Supply Corp. v. Petrocelli Group, Inc., No. 188, 2012 N.Y. LEXIS 3476 (N.Y. Nov. 19, 2012), New York’s highest court, the New York Court of Appeals, held that an insurance broker could be held liable for a failure to procure adequate insurance coverage even though the policyholder failed to read the policy to confirm that the coverage sought had been properly procured. By permitting such a claim to proceed, the Court substantially expanded the potential for broker liability in New York due to negligent policy procurement.