Baldwin Crane & Equipment Corp. v. Riley & Rielly Insurance Agency, Inc.

The plaintiff sued its insurance broker (Riley & Rielly), not on the relatively familiar ground that the broker failed to procure a policy offering the desired coverage, see, e.g., Rae v. Air-Speed, Inc., 386 Mass. 187, 192 (1982); Howard v. G.H. Dunn Ins. Agency, Inc., 4 Mass. App. Ct. 868 (1976), but on the ground that the policy procured by the broker did not afford the plaintiff a return premium in the event that its sales fell short of the estimate on which the premium had been set. Instead, the premium for the policy, $104,006, was a minimum premium, payable for the full twelve months…