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Vela Wood PC v. Associated Industries Insurance Co., Inc.

Court: ND Tx  09/10/2020  Court Finds Insured's Notice to Retail Broker of Lawsuit was not Proper Notice to the Insurer

The court determined that the lawsuit at issue constituted a claim, but the insured's notice to the broker was insufficient because the broker was not the agent of the insurer for purposes of receiving notice of claims. Notice to the insurer also failed because it was untimely, as the 90-day extended reporting period was inapplicable in light of the issuance of a renewal policy by the insurer to the insured.

professional malpractice policy, lawyer malpractice, notice, claim, wrongful act, professional services, notice to broker, late notice, extended reporting period, renewal policy

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