Firm Memoranda

People v. Wells Fargo Ins. Servs., Inc.: No Common-Law Fiduciary Duty for Insurance Brokers to Disclose Incentive Arrangements to Customers

Date: 02/18/11

On February 17, 2011, the New York Court of Appeals, in People v. Wells Fargo Ins. Servs., Inc., held that an "insurance broker does not have a common-law fiduciary duty to disclose to its customers ‘incentive' arrangements that the broker has entered into with insurance companies."

CGR Memo - People v. Wells Fargo Ins. Servs., Inc. - No Common Law Fiduciary Duty for Ins. Brokers to Disclose Incentives.pdf (pdf | 28.59 KB )