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The Ohio Supreme Court has ruled that a cause of action that alleges negligence relating to procuring a liability policy accrued on the date that the policy was issued. The case is LGR Realty, Inc. v. Frank & London Ins. Agency, 2018-Ohio-334.

Frank and London Insurance Agency (Frank and London) acquired a Real Estate Agents Errors and Omissions Liability Insurance Policy from the Continental Casualty Insurance Company. The policy was effective from May 12, 2010 through May 12, 2011. A company called Milligan Communications brought a suit against LGR Realty within the depicted policy period. LGR Realty made a claim against the policy provided by Continental for defense against the Milligan lawsuit, and to indemnify LGR Realty for any damages that it might become liable for. On April 26, 2011 Continental denied the claim because of an exclusion provision in the policy. LGR Realty accrued over $420,000 in attorney’s fees and expenses defending against the suit.

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