Mataracy
VIP Contributor
The insurance broker is a full- time specialist of professional standing, or at least, the law expects him to be.
Because the broker undertakes the responsibility of advising, recommending and arranging insurance cover he is presumed in law to have the necessary professional and technical knowledge of relevant class of insurance business.
His primary function is to act for the insured in the handling of all his insurance problems including assisting in claims settlement and using his position and connections in the market to get the best bargain for the insured and to solve difficult cases.
Brokers, consequently hold themselves out as experts in the field of insurance and are able to offer impartial advice to their clients on the appropriate insurance covers and premiums to suit their needs.
Failure to comply with any of these requirements is a breach if duty and could give rise to an action for professional negligence.
According to my illustrations or your passional idea; who is a Brokers to you?
Because the broker undertakes the responsibility of advising, recommending and arranging insurance cover he is presumed in law to have the necessary professional and technical knowledge of relevant class of insurance business.
His primary function is to act for the insured in the handling of all his insurance problems including assisting in claims settlement and using his position and connections in the market to get the best bargain for the insured and to solve difficult cases.
Brokers, consequently hold themselves out as experts in the field of insurance and are able to offer impartial advice to their clients on the appropriate insurance covers and premiums to suit their needs.
Failure to comply with any of these requirements is a breach if duty and could give rise to an action for professional negligence.
According to my illustrations or your passional idea; who is a Brokers to you?