Financial Services Policies/Financial Downturn Claims Lawyers
San Francisco Financial Services Policies-Financial Downturn Claims Attorneys Serving Clients Nationwide
Has Your Financial Advisor Acted Negligently?
If a customer successfully brings a lawsuit to court alleging that a broker-dealer was professionally negligent in steering the customer’s investments into troubled securities, the financial services company can be required to compensate its client for losses.
With the recent, catastrophic downturn in real estate and financial markets, a claim that a broker-dealer violated his or her fiduciary duty to a client can be extremely costly. These claims are on the rise. This is undoubtedly why a new kind of insurance policy has been developed specifically for financial services companies — broker dealer financial services policies.
The financial services policies are meant to protect financial services companies, i.e., investment advisors, brokerage houses, etc., from customer claims that the company and its brokers failed to anticipate the market downturn and failed to protect the client’s financial interests.
Skilled Assistance With Financial Services Claims Disputes
Like other potentially costly policies, insurance companies promise protection on one hand while taking away policy protections through vast exclusions with the other hand. When a request for legal defense is brought under a financial services policy, insurers typically refuse to defend.
This refusal to defend or failure to pay on financial services claims is usually rooted in the language of the policy application itself, or premised on the troubled securities endorsement. Because these policies are so new, they are not yet standardized. The policy language can differ greatly from policy to policy so a challenge to an unfair claim denial will require a careful review of the policy and whether the troubled securities endorsement is proper.
The insurance bad faith attorneys at Pillsbury & Coleman, LLP, represent financial services businesses, small- and mid-sized investment companies, and individual broker-dealers who are in dispute with their insurance company over an unfair claim denial.
CALL US FOR LEGAL COUNSEL AND TRIAL COURT REPRESENTATION
Our firm provides both legal counsel and trial court representation. We will review your policy to determine if your claim has been denied because of an exclusion or misinterpretation of the policy. If your claim has been unfairly denied or wrongly rescinded, we will represent you in court as you seek to have the insurer make good on their promise to defend against a financial downturn claim, their promise to pay for losses relating to failed investments or to get a policy reinstated.
Our insurance trial lawyers represent investment advisor policyholders across the state of California who have encountered problems with a policy meant to protect against troubled financial securities. Call our San Francisco office at (415) 433-8000 or send us an email for legal advice, policy review, and trial court representation.