Insurance Producer Exposure When Procuring Cover for Sophisticated Clients
By EsqSocial Corporation 30/04/25
Generally speaking, insurance producers face fairly routine obligations when procuring cover. Every state imposes a general duty to exercise that degree of care, skill and diligence a reasonable producer would exhibit to his client under the same or similar circumstances. If a producer is unable to obtain the cover requested, he is generally required to advise his customer of this fact in a timely fashion. Most states do not require a producer to provide general advice regarding a customer’s...
By: McGinnis Lochridge