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CONNOLLY v. BAIN

No. 90-1348.

484 N.W.2d 207 (1992)

Richard E. CONNOLLY, Jr., Appellant/Cross-Appellee, v. John L. BAIN, C. Dale Hoing, John McClain, Physicians Management Group Corporation, and BCH Corporation, Appellees/Cross-Appellants.

Court of Appeals of Iowa.

February 25, 1992.

Attorney(s) appearing for the Case

Jim Peterson and Lawrence L. Marcucci, West Des Moines, for appellant.

Roger T. Stetson and Margaret C. Callahan of Belin, Harris, Lamson, McCormick, Des Moines, for appellees.

Heard by DONIELSON, P.J., and HAYDEN and HABHAB, JJ.

HAYDEN, Judge.

Plaintiff, Richard Connolly, Jr., was a participant in a joint venture with defendants, John Bain and C. Dale Hoing. In 1987 the participants perceived a need for a new insurance product which would provide medical malpractice coverage for tail liability or prior acts coverage. To determine the feasibility of their ideas and assumptions regarding the proposed product, the participants sought actuarial advice from Spencer Gluck. Gluck determined the...

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