If You Have A Beef With Your Insurance Broker - By: Samuel D. Bornstein

The Legislature in New Jersey enacted the Consumer Fraud Act (CFA) which, under certain circumstances, permits a successful plaintiff to recover three times his compensatory damages and legal fees.

The New Jersey Appellate Division recently reviewed a case where plaintiff had contracted to buy real estate. In anticipation of the closing, defendant insurance broker obtained an insurance policy for the property and plaintiff paid the premium. However, the policy was later voided by the carrier for delays in closing. Afterward, plaintiff took title and the property was uninsured when it was damaged.

Plaintiff sued the broker for negligence in failing to obtain insurance and under the CFA for failing to inform him that the property was uninsured.

YOU BE THE JUDGE: Is a negligent insurance broker responsible for treble damages for consumer fraud?

The Appellate Division held the insurance broker was exempt from liability under the CFA; the statute does not apply to the conduct of learned professionals in providing services within the scope of their professional licenses.

The decision points out that a courtroom can bring justice and may be the only way to protect your rights. We know courtrooms; we have harnessed the power of the law in courtrooms to bring justice for our clients for decades. Please contact us to discuss how we can help you in a new lawsuit or provide a "second opinion" about your pending lawsuit. There is no obligation for the initial consultation.

The New Jersey Law Firm and its attorneys are dedicated to client-driven results and protecting individual rights and business interests. For 40 years, the Law Firm has been recognized for sound legal judgment, immigration laws, real estate cases, litigation, contracts and advocacy in serving the transactional needs of both individual and business clients. If you need assistance with business or corporate formation and operations, or you seek legal advice about insurance defense, arbitrations, wrongful termination, discrimination, personal injury, environmental issues, bankruptcy, insurance, civil rights and other litigation alternatives, the Law Firm has the comprehensive experience, foresight, skills and talent to assist you to safeguard your assets, interest and investments. The New Jersey Law Firm's highly devoted, motivated, experienced, skilled lawyers/attorneys and effective legal professionals are always there to assist you.

About the Author

Author, Samuel D. Bornstein, is associated with the law firm (http://www.bornsteinlawfirm.com/) and has 40 years of experience in representing individuals and a wide variety of businesses from Fortune 100 companies that need specialized assistance to smaller companies that look to the firm as their "in house" lawyer for general day-to-day advice. The firm is experienced with transactional work and litigation, emphasizing corporate and partnership operations, employment and workplace law.

Article Directory Source: http://www.articlerich.com/profile/Samuel-D--Bornstein/73667

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