“Avoiding E&O: When an Insurer Goes Broke, Can Policyholders Blame the Broker?” Property Casualty 360
“Agents and brokers who place relatively straightforward risks with admitted carriers traditionally have not had to concern themselves with the problem of carrier insolvency,” writes Matthew S. Marrone, a partner in Goldberg Segalla’s Professional Liability Practice Group. “If admitted carriers become insolvent, guaranty funds typically cover losses. But hard-to-place risks, which require the broker to access the surplus lines market, can present a virtual minefield.”
In this article from his “Avoiding E&O” series in Property Casualty 360, Matt explores this complex issue and provides best practices for brokers to help prevent or defend errors and omissions claims.
Read the article here:
- Matthew S. Marrone, “Avoiding E&O: When an Insurer Goes Broke, Can Policyholders Blame the Broker?” Property Casualty 360, March 4, 2015