The Insurance Business poll question asking brokers who was to blame for the lack of insurance cover following a robbery of one of Canada’s wealthiest families revealed some interesting answers as to just who should pay the piper.
The question: The Bronfmans versus Broker battle. Who’s to blame? showed that out of 23 respondents, nine people felt both the Bronfmans and the Broker were to blame, with seven assigning sole blame to the Bronfman family for not checking their home policy for sufficient cover.
Only four felt the broker was to blame, while three respondents laying the true fault at the feet of the criminals.
The saga began back in November of 2008, when thieves stole a 140-kilogram safe from Paul and Judy Bronfman’s mansion. Since then, the Bronfmans have waged a court battle with their insurance broker , BFL Canada Risk and Insurance Inc., over the fine print in the policy.
The lawsuit, for $3-million, alleges the broker was negligent for failing to ensure that the couple’s policy reflected their standard of living.
BFL has alleged the Bronfmans were well aware of the coverage limits in their policy, which was with
AIG Assurance.
According to court documents, the thieves made off with $50,000 in cash, stolen Stanley Cup rings worth $15,000 each, and a platinum necklet with 95 diamonds valued at more than $100,000.
In addition to that, a pair of 18-karat-gold, diamond-mounted earring jackets have been estimated at more than half a million dollars.
The thieves remain at large.
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