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LAWRENCE INSURANCE GROUP, INC. v. KPMG PEAT MARWICK L.L.P.

5 A.D.3d 918 (2004)

773 N.Y.S.2d 164

LAWRENCE INSURANCE GROUP, INC., Respondent, v. KPMG PEAT MARWICK L.L.P., Appellant.

Appellate Division of the Supreme Court of the State of New York, Third Department.

March 11, 2004.

Mugglin, J.

Plaintiff is a holding company. One of its wholly owned subsidiaries was United Community Insurance Company (hereinafter UCIC). From 1986 through 1993, plaintiff retained defendant to furnish various accounting services for it and its subsidiaries. One of defendant's tasks was to perform an actuarial review of the sufficiency of the capital reserves of UCIC. Defendant performed its audit of UCIC's reserves without incident until March 1993. However, in...

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