Queensway Financial Holdings Ltd. v. Cotton & Allen, P.S.C.

Opinion of the Court by

Justice NOBLE.

Queensway Financial Holdings, Ltd., and its subsidiaries filed a professional malpractice suit against Cotton & Allen, P.S.C., for alleged breach of contract and negligence related to audits of the financial statements of an insurance company to be bought by Queensway. A little over a year after the purchase, the Indiana Department of Insurance ordered a significant increase in the loss reserves of the insurance company. The trial court and Court of Appeals held that the suit, filed approximately two years after the audits but less than a year after the…