Insurance 101 – Chapter 5 – Volume 47 – Duties and Liabilities of Insurance Brokers

Duties and Liabilities of Insurance Brokers

Cases in which insurance brokers’ liability is in question depend in part on whether brokers are seen to be serving a fiduciary role. A person or an entity is a fiduciary with respect to a plan to the extent (i) he exercises any discretionary authority or  discretionary control respecting management of such plan or exercises any authority or control respecting management or disposition of its assets, or he has any discretionary authority or discretionary responsibility in the administration of such plan.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

 

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