Legal Question in Securities Law in Utah
Broker Insurance Fraud
Thank you for your service. If an Insurance agent fraudulantly borrows monies against a clients policy, can the Insurance company he represents be held liable?
Asked on 1/10/02, 11:21 pm
1 Answer from Attorneys
Nicholas Guiliano
Arbitration, Securities & Investment Fraud Lawyer
Re: Broker Insurance Fraud
Yes! The Insurance Company is liable for the fraudulent acts of its agents, under the common law and under the statutory schemes of most states. There is, however, a statute of limitations, which may be as short as a year. Act quickly. If you do not get the matter resolved very quickly. Hire local counsel, put everyone on notice, and if you get no results...sue them!
Answered on 1/11/02, 6:16 am
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