In this brief paper the authors consider the duties owed by professional indemnity insurance brokers to their insured clients. Given the prevalence of claims for financial mis‐selling this is an important issue of concern to all authorised advisers. Any failure to obtain or maintain cover leading to uninsured loss will naturally attract the potential attention of the broker’s own insurers. The authors summarise what the law expects of brokers in standard situations.
Journal of Financial Regulation and Compliance – Emerald Publishing
Published: Jun 1, 2004
Keywords: Insurance brokers; Insurance brokers’ duties; Arranging insurance cover; Notifying insurance claims