Breach of Fiduciary Duty by Vendor

When counsel for a national insurance company sought to investigate alleged breaches of fiduciary duty by a third-party vendor relating to the underwriting of insurance policies, it turned to Axium. We conducted a comprehensive review of a sample of hundreds of underwriting and claims files and compared the files to contractually-mandated underwriting protocols to identify departures and deficiencies in underwriting practice. Based on our review of underwriting practices, we conducted a complicated recalculation of insurance premiums to quantify the magnitude of the financial consequence of the breaches of duty. We also provided the analysis that supported the findings of counsel’s industry experts. Axium’s extensive affidavits and testimony were core components of the evidence presentation at the resulting arbitration proceeding.