Despite allegations of fraud and padding of premiums, neither a Miami-based cargo insurance broker nor a Lloyd’s coverholder can be asked to pay punitive damages in a breach-of-contract dispute, a Florida appeals court decided last week.
“A plaintiff … may not recover damages for fraud that duplicate damages awarded for breach of contract,” Florida’s 3rd District Court of Appeals wrote in overturning part of a Miami-Dade Circuit Court’s ruling, citing Florida statutes and previous court decisions.
It’s the second time in a month that an appeals court has underscored the limited path that insurers must