“Brokers: Be Careful What You Promise,” Property Casualty 360
“In recent years, fears have been raised that insurance agents’ and brokers’ ‘duty to advise’ is being so broadly interpreted as to put them at substantial legal risk, in ways no one had previously expected or anticipated,” writes Peter J. Biging, a partner in Goldberg Segalla’s Professional Liability Practice Group. “And a recent court case might be an early indicator that those fears are well placed.”
In this article, Peter examines the recent Florida federal district court decision in Tiara Condominium Association, Inc. v. Marsh USA, Inc. as a call to agents and brokers that a new world is upon them — one in which promoting oneself as an expert and promising “risk-management” services may be fraught with risk of its own. Here, Peter provides an analysis of the potential impact of Tiara along with practical takeaways for agents and brokers.
Read the article here:
- Peter J. Biging, “Brokers: Be Careful What You Promise,” Property Casualty 360, March 13, 2014