Insurance Broker Liability

Insurance brokers play a significant role in the procurement and negotiation of insurance policies, including in advising policyholders on the scope and availability of coverage, and a broker’s potential liability in a coverage dispute should not be overlooked. Brokers may face liability to a policyholder when they fail to obtain the coverage they should have procured. A broker also may be liable, even if it obtains the coverage it promised to procure, if the insurance carrier denies coverage and the broker failed to take the required steps to avoid, or at least warn, the policyholder of a possible gap in coverage or a potential coverage dispute. Blank Rome’s insurance coverage attorneys provide advice and secure recovery of revenue through litigation and alternative means on behalf of a wide array of clients.