Insurance Broker Liability Claims
When an individual purchases an insurance policy from an insurance broker/agent, they're trusting their broker will use reasonable care, professional skill, and due diligence to obtain a specifically requested policy or unquestionably warranted based on the insured's needs. Mistakes, oversights, errors, and omissions on the part of an insurance broker can result in severe financial damage to the insured. Fortunately, insured individuals have the right to sue their insurance broker for professional negligence under Florida law. Our Orlando lawyers can help those who've suffered because of an insurance agent's negligence obtain the compensation they deserve.
Have you suffered financial harm due to an insurance agent's negligent errors or carelessness? Contact the Law Offices of Michael B. Brehne, P.A. today to schedule a case consultation with our experienced insurance dispute lawyers!
The Legal Obligations Of Insurance Brokers
Beyond having an ethical and moral obligation to meet a client's unique needs, insurance brokers also have a legal responsibility to fully understand the insurance policies and products they provide. When an insurance agent fails to acquire the requested insurance policy or misrepresents the protections a policy affords, resulting in financial damages for the insured, you may file a claim (sometimes referred to as an error or omissions claim) against the insurance broker for professional negligence.
Common Examples Of Insurance Broker Negligence
The following are a few examples of situations where an insurance broker may be held liable for professional negligence.
- Failure to procure insurance. This includes situations wherein a broker simply fails to procure a specific type of insurance, or any insurance at all, for their client.
- Inadequate insurance coverage. This occurs when a broker procures some coverage, but the amount is insufficient/inadequate to cover a particular risk explicitly requested by the insured. So long as it can be proven the broker was aware of the risk of inadequately covering what was being insured, they can be held liable for damages.
- Failure to advise and inform. Insurance agents have to advise their clients of the best policy available at the most desirable price. Failure to advise a client of an insurance policy the broker knows, or should reasonably know, would benefit their client can result in liability.
How Our Insurance Attorneys Can Help
Filing a claim against an insurance agent or broker can quickly become frustrating and confusing. Firstly, suppose an agent is employed by an insurance company rather than an independent broker. In that case, clients who've suffered financial damages due to negligence may also seek compensation from the agent's company. Second, many brokers carry insurance to protect themselves against claims of negligence. These can be difficult hurdles for claimants to overcome on their own. Fortunately, our experienced litigation attorneys have years of experience settling insurance disputes and can help review the specifics of your case to determine the value of your claim. To learn more, contact the Law Offices of Michael B. Brehne, P.A. today to schedule a case consultation!