INSURANCE LAW: Superior Court holds that private cause of action does not exist for alleged insurer price fixing and market manipulation:

10/31/2016 | Joseph M. Busher Jr.
jmbusher@jacksonokeefe.com

Category: Insurance

Joseph M. Busher Jr.

The plaintiff homeowners alleged that they sustained property damage as a result of a fallen tree.  They further alleged that the defendant insurer was insolvent as a result of claims resulting from storms Irene and Sandy, and that the insurance company used incompetent individuals to process their claim, failed to pay and failed to communicate with plaintiff’s adjuster.  The court grants the insurer’s motion to strike the Unfair Insurance Practices and Unfair Trade Practice claims since they are predicated upon alleged misconduct in connection only with one insurance claim.  The court also strikes a fraud count based upon the plaintiff’s failure to allege detrimental reliance.  Finally, the court strikes a purported private cause of action for claims arising from price fixing and market manipulation, holding that Connecticut does not recognize such a private cause of action.  Holt v. Safeco Ins. Co. of America (08/08/16)

Jackson O’Keefe, LLP, has served as insurance defense counsel since the 1950s.  If you have an insurance question or litigation matter involving a GL, E&O, D&O, homeowners,  or auto policy, contact us for assistance at 860-278-4040.

Jackson O’Keefe has been practicing in the insurance field since the 1950s. The firm was co-founded by a former Insurance Commissioner for the State of Connecticut.  The firm is pleased to have received the highest Martindale-Hubbell rating of “AV.”  It is recognized in A.M. Best’s Directory of Recommended Insurance Attorneys.  It is also recognized in the Bar Register of Preeminent Attorneys.  Additionally, several of our partners have been peer-reviewed by Thomson Reuters as “Super Lawyers” qualifying as among the top five percent of practicing attorneys in Connecticut.  We are active participants in the Claims and Litigation Management (CLM) Alliance. 

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