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Pennsylvania Supreme Court Rules that Insurance Salesman had No Fiduciary Duty to Policyholders

On June 20, 2017, the Pennsylvania Supreme Court ruled that a life insurance salesman had no fiduciary duty to his customers where the customers retained decision-making authority regarding which policies to purchase.   In Yenchi v. Ameriprise Fin., Inc.,  the Court returned a 4-2 verdict, overturning the lower court’s finding that it was possible that a fiduciary relationship existed between the parties.

Click here to read the Case Alert.

Austin Moody-1 for web

Jul 10, 2017
Austin D. Moody

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