Mealey's Insurance - Insured Failed To Allege Breach Of Fiduciary Duty Claim, 3rd Circuit Finds

Mealey's Insurance - Insured Failed To Allege Breach Of Fiduciary Duty Claim, 3rd Circuit Finds

PHILADELPHIA - An insured failed to assert breach of fiduciary duty and bad faith claims against a surety over payment for construction projects because there is no fiduciary relationship between the parties, the Third Circuit U.S. Court of Appeals affirmed June 11 (Reginella Construction Company Ltd. v. Travelers Casualty & Surety Company of America, No. 13-3756, 3rd Cir.; 2014 U.S. App. LEXIS 10834).

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