Careful Steps: Insurance Brokers Should Take Special Precautions When Advising Clients on CoveragePDF
Robert Berg's article, "Careful Steps: Insurance Brokers Should Take Special Precautions When Advising Clients on Coverage," was published in Best's Review on December 1, 2015.
From the article...
Lawsuits against insurance brokers’ clients are occurring at an increasing rate. When sued, the client will tender the lawsuit to an appropriate insurer, but tenders often may be declined. When this occurs, insureds are often frustrated and in search of other “pockets to pick” in order to avoid personal exposure. Insured clients will frequently look to their brokers to ascertain why coverage did not apply, and why the broker had not obtained more favorable coverage. This dynamic can result in claims being made against brokers, alleging professional errors and omissions.
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