Starr Indemnity claims Florida broker withheld $180,000 in premium funds

Florida Statute §626.561, cited in the complaint, requires that all premiums, return premiums, or other funds belonging to insurers received by an agent or agency are trust funds received in a fiduciary capacity and prohibits their misappropriation. Starr Indemnity alleges Quantum, Victor Quijano, and Janet Quijano breached fiduciary duties by failing to hold, segregate, and remit the premiums, instead acting in their own self-interest. The complaint also asserts that both Victor and Janet Quijano, as officers and directors of Quantum, had fiduciary duties to Starr Indemnity and participated in or oversaw the alleged conduct.

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