Panel Affirms Rulings For Reinsurers, Brokers On Implied Contract, Negligence Claims

Mealey's (April 25, 2022, 1:11 PM EDT) -- WASHINGTON, D.C. — Affirming a lower court’s rulings that reinsurers and insurance brokers are not liable for a financial services company’s losses, a District of Columbia Circuit U.S. Court of Appeals panel on April 22 denied the company’s bid to “sidestep its insurer,” rejecting its argument that it had an implied contract with the reinsurers and saying in part that negligence claims against the brokers are barred by the District of Columbia’s economic loss doctrine....