When faced with claims against agents and brokers for failing to properly advise their clients, courts have generally found that agents and brokers are not risk managers and are not responsible for advising their clients to purchase specific types or amounts of coverageabsent special circumstances.
Special relationships or circumstances may broaden an agent or brokers’ duty to advise. In this second article in a two-part package about agent/broker professional liability, Attorney Peter Biging examines recent relevant court rulings examining such circumstances.
Recent court rulings confirm that agents and brokers do not owe duties to insureds to provide complete coverage for liability and property damage. Their obligations typically stop at providing only coverage that has been specifically requested.
Special relationships or circumstances may broaden an agent or brokers’ duty to advise. In this second article in a two-part package about agent/broker professional liability, Attorney Peter Biging examines recent relevant recent court rulings examining such circumstances.
The broker's failure to renew the policy with the same terms ultimately put him on the receiving end of a lawsuit alleging breach of duty, although his fate is yet to be decided, because some tactics
A basic duty of an insurance agent or broker is to provide requested coverage within a reasonable time period, but the duty doesn't exist until the producer agrees to procure the coverage, a court
A basic duty of an insurance agent or broker is to provide requested coverage within a reasonable time period, but the duty doesn't exist until the producer agrees to procure the coverage, a court rul
o Are generally not considered to owe any duties beyond that to offer advice or guidance with respect to types of coverages, limits or other issues absent "special circumstances" or the existence of
This trend means that more juries may be charged with deciding whether a very general request for coverage from a customer can form the basis of a claim for negligence or breach of contract against
This trend means that more juries may be charged with deciding whether a very general request for coverage from a customer can form the basis of a claim for negligence or breach of contract against hi