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Insurance Agents Should Not Make Claims Decisions

posted 196 weeks ago on Specialty Insurance Blog

Insurance agents & brokers could put their insurance agents E&O (professional liability or errors & omissions) at risk by making a coverage determination in a claims situation. Making coverage decisions is the insurers job, and agents can get into trouble by representing coverage to insureds as they try to provide the best service to their clients. This risk became clear to an insurance agent defendant in a recent claim that ended up costing millions. In an article in American Agent...
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