Garrick v. Mesirow Financial Holding, Inc.

Illinois Appellate Court
Civil Court
Citation
Case Number: 
2013 IL App (1st) 122228
Decision Date: 
July 26, 2013
District: 
1st Dist.
Division/County: 
Cook Co., 6th Div.
Justice: 
GORDON
Holding: 
Affirmed.
Plaintiffs filed professional negligence action against their former insurance producers, for excluding a pair of $80,000 diamond earrings from coverage. Plaintiffs reported one earring lost, obtained money for loss in claim under private collections coverage, then purchased identical replacement earring and later lost both earrings. Court properly found that fiduciary duty ceased when Plaintiffs renewed their policy through another producer. Insurance producer's duty as to policies or coverage that the producer was not asked to renew, procure, or bind for proposed insured cannot be extended and is confined to specific coverage the producer was retained to obtain. (LAMPKIN and REYES, concurring.)