Reportage: Path to protection
Brokers have to embrace professionalism and improve placement procedures if they are going to protect both clients and themselves from crippling liability claims, explains Edward Murray
The push for professionalism in the insurance market is falling a long way short of protecting brokers and their clients from the costly ramifications of poor placement procedures.
Many businesses do not understand the responsibilities they bear when it comes to disclosure, brokers are ignorant to the standards by which the law will judge them in a dispute and insurers remain opaque about their understanding of individual risks. In addition, the wordings insurers use are often dated and
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