Cassidy v. Derek Bryant Insurance Brokers, Ltd.

PRESIDING JUSTICE McCORMICK

delivered the opinion of the court:

This case arises from an extraordinarily unsuccessful insurance program for which valid claims are more than twice the total premiums collected. Forum Insurance Company (Forum) issued the insurance; Will Darrah & Associates, Inc. (Darrah), as managing general agent, sold the insurance; and Derek Bryant Insurance Brokers, Ltd. (Derek), procured reinsurance for most of Forum’s risk from a group of underwriters acting in syndicates at Lloyd’s, London. Each of these four parties sued the other three, and the parties have now settled…