News & Analysis as of

Insurance Agents

Insurance Agents as Employees? Court Breaks Independent Contractor Precedent

On August 1, 2017, the US District Court for the Northern District of Ohio held that insurance agents working under independent contractor agreements with an insurer were employees for purposes of pursuing pension and other...more

Courts Should Read Elder Abuse Act Broadly to Stop Wrongdoers

by Downey Brand LLP on

California’s Elder Abuse and Dependent Adult Civil Protection Act is elastic enough to encompass claims arising from sharp insurance sales practices, even when elders do not pay anything directly to the agents. So concluded...more

Implementing the DOL Fiduciary Rule

Background - On June 9, 2017, key provisions of the fiduciary rule adopted by the Department of Labor (DOL) will become applicable for most broker-dealers, as well as many bankers, insurance agents, and others who make...more

April 2017 Independent Contractor Misclassification and Compliance News Update

by Pepper Hamilton LLP on

April was a red-hot month for independent contractor misclassification cases. We report below on 11 cases in the courts and two before administrative agencies involving...more

South Carolina Consumer Finance Division Issues Guidance on Attorney/Insurance Agent Preference Requirements

by Alston & Bird on

On February 27, 2017, the South Carolina Board of Financial Institutions, Consumer Finance Division issued guidance on the attorney and insurance agent borrower preference requirements, which require a creditor to ascertain...more

Defence & Indemnity - February 2017: I. INSURANCE ISSUES A.

by Field Law on

I. INSURANCE ISSUES A. Where an insurer has failed to afford a defence to its insured and the insured is successful in bringing proceedings to enforce the insurer’s obligations, the court can and will award the insured a...more

Court Affirms Summary Judgment Holding Insurance Agent Owed No Fiduciary Duties To Insured

by Winstead PC on

In Brown v. Carrell, homeowners filed suit against their insurance agent over damages to their home from Hurricane Ike. No. 09-15-00016-CV, 2016 Tex. App. LEXIS 13782 (Tex. App.—Beaumont December 29, 2016, no pet. history)....more

The Department of Labor’s 2016 Final Fiduciary and Conflict of Interest Regulations: Amendments to Prohibited Transaction...

This post continues our examination of the Department of Labor’s suite of final fiduciary and conflict of interest regulations. Our previous posts discussed the newly expanded definition of “investment advice fiduciary”; the...more

Case Reminds Insurance Agents to Review Process of Receiving Approval from Insureds Before Submitting Applications to Carriers

by Hinshaw & Culbertson LLP on

Schmidt v. Indiana Insurance Co., No. 22S01-1507-PL-412, Supreme Court of Indiana, December 2, 2015 - Plaintiff was the owner of a house in which he allowed his cousin to live from 2007 to 2009. When the cousin moved...more

Agent Had No Duty to Produce Additional Insurance Coverage For Lost Rent and Soft Cost Without a Specific Request

by Hinshaw & Culbertson LLP on

Professional Lines Alert - APM, LLLP v. TCI Insurance Agency, Inc., No. 20150243, Supreme Court of North Dakota, March 15, 2016 - Plaintiff, a property management company, was seeking a builder's risk insurance...more

Murray v. Farmers Insurance Company

Murray v. Farmers Insurance Company Arizona Court of Appeals, Division Two, January 19, 2016 - Court of Appeals Addresses Insurance Agent Negligence Claim; Plaintiff May Claim Emotional Damages - For years, the...more

Court of Appeals Addresses Insurance Agent Negligence Claim; Plaintiff May Claim Emotional Damages

For years, the Murrays bought minimum limits vehicle insurance, including minimum UM/UIM from agent Jones. Then they gradually began increasing their limits. They testified that when they discussed UM/UIM coverage with Jones,...more

Are Insurers Engaged in Deceptive Practices and Illegal Pricing? If so, what can be done about it?

by Nossaman LLP on

We wish to call attention to a disturbing trend, that even in the highly regulated field of personal lines coverage, homeowners and auto policies, the insurance industry is engaged in courses of conduct designed to write...more

A Summary of Predicted Litigation Under the DOL’s Proposed Fiduciary Rule

by Carlton Fields on

The Department of Labor’s recent Proposed Rule, which defines the term "fiduciary" as it applies to persons who provide "investment advice" to ERISA plans and IRAs, will impact the likelihood and severity of fiduciary...more

IREG Update - September 2015

by Dentons on

Hot Topic: New York's certificates of insurance law now in effect - The new law addresses long-standing industry concerns and codifies opinions issued by the New York Insurance Department's (predecessor to the Department...more

Post-Employment Covenants: Is an Inducement to Smile An Inducement to Cancel?

A recent Circuit Court case confirms that the term “non-inducement” means just that. In American Family Mutual Insurance Company v. Graham, the Eighth Circuit affirmed a jury verdict against an insurance agent who, the jury...more

Washington Federal Court Decertifies Class of Insurance Agents Alleging Entitlement to Overtime

by BakerHostetler on

Challenging the classification of workers as independent contractors continues to be a growing area of focus for plaintiffs’ attorneys. However, as a recent federal case from Washington demonstrates, the fact-intensive...more

Agents Can’t Insure Class Treatment – Varied Experiences Require Decertification

by Seyfarth Shaw LLP on

Last week, a federal district court decertified a Rule 23 class of more than 1,000 insurance agents who claimed that Bankers Life and Casualty Co. misclassified them as independent contractors, and, as a result, they were...more

New Rhode Island Banking Regulations to Promote Uniformity

by Partridge Snow & Hahn LLP on

Rhode Island has repealed certain banking regulations and replaced them with new regulations in order to promote uniformity. Banking Regulations 98-14 “Licensees”, 98-14.1 “Lenders and Loan Brokers”, and 98-14.4 “Check...more

Illinois Supreme Court Addresses Duty of Care Owed by Insurance Agents

On March 19, 2015, in its decision in Skaperdas v. Country Cas. Ins. Co., 2015 IL 117021 (Ill. Mar. 19, 2015), the Illinois Supreme Court affirmed an appellate court decision holding that Section 2-2201 of the Illinois Code...more

Do You Know the Difference Between an Insurance Agent, Broker and Broker/Agent?—Should you Care?

Woodland Hills personal injury lawyer Barry P. Goldberg is a student of all things insurance. When it comes to this topic the average person turns off immediately and just somehow trusts that the person they buy the...more

California Court of Appeal Limits Scope of Agent's Immunity Rule Based on "Special Relationship" Between Insurers and Insureds

On April 2, 2014, the California Court of Appeal, First Appellate District, published an opinion that limits the scope of the agent’s immunity rule insofar as it applies to employees of insurers involved in investigating...more

EEOC Loses Argument That Company Converting Employees to Contractors Cannot Require Release of Pending Discrimination Claims

Over the past several years, the Equal Employment Opportunity Commission has filed several high profile lawsuits accusing employers of retaliating against employees by requiring them to waive discrimination claims in return...more

Florida Implementing New Insurance Agency Licensing Law

by Foley & Lardner LLP on

In 2014, the Florida Legislature enacted a law that makes significant changes to the way insurance agencies are licensed in Florida. The new law amends Florida’s insurance agency licensure law, and is intended to streamline...more

Congress Speeds Non-Resident Licensing for Insurance Producers

by Holland & Knight LLP on

In yet one more assertion of federal power to regulate insurance – which states have long controlled – President Obama signed legislation on Jan. 12 that will dramatically speed the licensing of insurance agents and brokers...more

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