Additional Insureds Are Denied Coverage Where Carrier Rescinds Policy of Contractor That Had been Issued Based on Misrepresentations in the Policy Application Concerning the Nature of Contractor’s Work

When a tower crane collapsed in New York City, killing seven people, injuring dozens more, and damaging several buildings, the contractor that was operating the crane was denied coverage by it’s excess liability carrier for several distinct reasons.  The first reason...

After Procuring Insurance for Its Developer/General Contractor Client, a Broker Owes No Duty to an Insured Subcontractor under an OCIP to Advise that the Carrier Has Become Insolvent

A project developer engaged an insurance broker to obtain insurance for a new construction project, and the broker placed an Owner Controlled Insurance Program (OCIP) with $25 million of liability coverage for 10 years after completion of the project that later became...