Print Page   |   Sign In   |   Register
Community Search
Sign In


Latest News
Featured Members
Derek M. DanielsMcCumber Daniels Buntz Hartig & Puig Tampa, Florida
Ernest Koschineg IIICipriani & Werner, P.C., Blue Bell, PA

Member Achievement and Case News: Featured

A&B Claim Accrues When Policy is Issued

Tuesday, September 18, 2018   (1 Comments)
Posted by: Tom Jensen
Share |

Insurance agency procured a real estate E&O policy for client that included a specific-entity-exclusion endorsement explaining that the policy does not apply to any claim made against the customer by a certain entity. Policy incepted May 12, 2010. That entity was sued and the insurer denied the claim based upon the exclusion. Customer sued agency on April 17, 2015 alleging failure to procure an appropriate policy. Ohio has a four year SOL. Customer argued the "delayed damages" rule of accrual applied, such that damage was incurred when insurer declined coverage in 2011, making the claim timely. In lGR Realty, Inc. v. Frank & London Ins. Agency, 2018 Ohio 334 (2018) the court ruled insurance agent A&B negligent procurement/misrepresentation claims accrue when the allegedly improper policy was issued. Thus the claim was barred by the SOL.  

Comments...

Ben A. Andrews says...
Posted Wednesday, September 19, 2018
Interesting Tom. Obviously the exact opposite of how courts in Florida and other states would rule, instead holding the E&O claim is not ripe until the coverage action has been finally "judicially determined," whatever that means.

PLDF © 2013 | 1350 AT&T Tower | 901 Marquette Avenue South | Minneapolis, MN 55402 | 612-481-4169 | cjensen@PLDF.org