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Broker facing £3.5m legal claim for underinsurance

A UK based insurance broker is facing a legal claim for damages of “at least £3.5 million” after a fire revealed one of its commercial clients had been significantly underinsured, according to reports. Legal news source Law360 said a waste management company based in the South West of England had filed a claim in the High Court against a Lloyd’s of London broker after “its main processing facility, including its factory, machinery, fixtures and electrical office equipment had been destroyed in a fire in March 2017.” According to the report, the waste management firm believed the broker “had breached its duties when arranging the waste processor’s insurance coverage… by failing to take into a

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