Errors & Omissions
MCB provides many diverse services to clients in the area of Errors and Omissions and Directors and Liability Officers. The Firm has represented life insurance company agents and field underwriters in cases involving allegations of insurance fraud and misrepresentation and pension fraud pursued by both the Plan trustees and the United States Government.
The Firm has additionally defended individual life insurance agents and fi eld underwriters in cases brought by the Plan against the agent for breach of fiduciary duty under ERISA. We have provided similar type defenses to individual agents accused by the policyholder of fraud, misrepresentation, churning and/or non-suitability of product claims.
MCB Result: Successfully Defended.
In a case brought by the Pension Benefit Guaranty Corporation in the Southern District of New York, MCB successfully defended insurance agents who were alleged to have breached their fiduciary duties under ERISA to the Plan resulting in harm to the Plan benefi ciaries.