Maryland Casualty Co. v. Peoples

Citations

• 26 Pa. Super. 142
• 1904 Pa. Super. LEXIS 281

Syllabus

<p>Principal and agent — Broker—Insurance broker.</p> <p>Where an insurance broker is employed by a person who had no dealings with him before, to secure a policy of insurance on a particular property, the broker is the special agent of his employer, and cannot bind the latter by departing from the strict instructions given. Thus where an insurance broker is given authority to procure a policy for a certain stipulated amount at a stipulated rate, the party so employing him is not liable to the insurance company for a policy taken out for an entirely different amount, and at a cost several times as great as that which the broker was authorized to incur.</p>