Our office operates as a NY Licensed Insurance Broker. A client has filed a lawsuit against our office for "late reporting " of a claim to the insurance company as a result of an accident that occurred on August 25, 2007. The insurance company denied coverage for the insured. Our current E & O carrier has denied coverage based upon the retroactive date of our policy , which is subsequent to the date of the incident. An answer to the lawsuit filed against our office must be filed on or before October 29, 2012.
Our budget for the project is open and will be based upon the skillset of the contractor to effectively handle this project.