TLSS partner Jonathan R. Harwood and associate Scott B. Ladanyi co-authored the article entitled “Reading Is No Longer Fundamental in Insured Vs. Broker Litigation in New York,” published in the October 14, 2013 issue of Riding the E&O Line, the newsletter of the Professional Liability Committee of the Defense Research Institute.
The article charts recent changes in New York law regarding an insured’s obligation to read the policy in order to maintain a professional liability suit against a broker for failure to obtain the insurance requested. Whereas New York law traditionally imposed a reading requirements on policyholders to maintain such suit, the New York Court of Appeals (the state’s highest court) found the failure to read the policy at most a factor in a comparative fault analysis in American Building Supply Corp. v. Petrocelli Group, Inc., 19 N.Y.3d 780, 979 N.E.2d 1181 (2012). The full test of the article may be accessed at the following link: http://portal.criticalimpact.com/newsletter/newslettercontentshow1.cfm?contentid=15678&id=1881.