Insurer Does Not Have to Indemnify Broker in Professional Negligence Case
Assessing appropriate policy limits is a daunting task for any insurance broker. Errors in judgment can result in significant losses for the client as well as insurers. Businesses have an interest in maintaining affordable coverage, but also need to ensure that they are adequately covered by insurance should the worst scenario occur. Businesses look to insurance brokers to help them properly assess their risk and determine the amount of coverage required to minimize that risk. When a broker provides inaccurate advice and their clients find themselves in the pickle of having lacking insurance coverage, the broker may be on the hook [...]