Webinar: What Your Broker and Your Insurer Won’t Tell You
Date/Time: Monday, November 4, 2024, 12:00 PM Pacific Time (US and Canada)
Host: Frederick Fisher
President | P&C Insurance Specialist
“What Your Broker and Your Insurer Won’t Tell You”
Nothing is a bigger conversation stopper then “let’s talk about insurance!” Yet now is the time to truly listen.
37 states now follow what is commonly referred to as the “order taker standard of care”. What this means, is an insurance Broker /Agent has no obligation to provide you with any advice whatsoever concerning your coverage, needs, specialty coverages, or even limits. It’s entirely up to you to know what you want and to tell your insurance broker what it is he should be getting for you. In other words, it is up to you know more about your needs and what might be available, than the insurance producer you’re working with! This is true irrespective of whether coverages are for homeowners and auto insurance, etc., or commercial lines and sophisticated coverages like Error & Omissions, D&O etc.
There are however, ways around this, and in this presentation, you will not only learn how and why this has taken place, but what you can do about it to get better service from your insurance broker and not have a “surprise” when you have claim. Insurance today is extremely complicated, irrespective of whether it is personal lines or commercial lines. The policies are filled with gotchya’s, which are intentional, one law firm extolling “an elementary policy condition shielded an excess insurer from an otherwise coverable loss. Retaining experienced counsel to assist in reviewing policies can help an insurer craft strong coverage defenses that limit risks and save costs.” Yet, consider that suppliers of goods and services are also consumers, such a lack of foresight cost a major pharmaceutical company over $47 million because of a highly unusual condition in their Excess Policy. Buyer Beware- or buyer be aware.
Join Zoom Meeting
https://us02web.zoom.us/j/89163838007?pwd=bXVKc3hVbW9oTGxYc1QzVVlpNER5QT09
