Insurance Agent and Broker Malpractice: Identifying and Mitigating Risks, Defending E&O Claims
Recording of a 90-minute CLE video webinar with Q&A
This CLE will discuss the wide ranging and heightened professional liability risks facing insurance agents and brokers, the types of conduct that may give rise to expanded risks, and how to best protect and defend against a variety of errors and omissions claims that may arise. The program will address traditional agent and broker errors and omissions claims, as well as expanded exposures based on the application of fiduciary standards, and what conduct by agents/brokers can give rise to a fiduciary duty of care. The panel will also discuss professional liability risks to individuals and entities outside the broker-customer relationship, as well as how and in what manner individuals and entities can be targeted by insurers with which insurance coverage has been placed. The panel will also discuss new risks and challenges arising from providing agent/broker services remotely and from technological advances in how services are provided.
- Existence and parameters of brokers' traditional duties, and the traditional risks presented
- How and why brokers' can be deemed to have assumed expanded "fiduciary" duties, the growing risks presented, and the manner in which the risks have evolved
- Strategies for managing risk, and defending against E&O claims
The panel will review these and other pivotal issues:
- What does broker E&O insurance cover and what doesn’t it cover?
- What is the broker's responsibility and liability for providing consulting or risk management services? How is it different from simply procuring coverage? What conduct gives rise to heightened duties?
- What is a broker’s duty of care to the general public or others impacted by the absence of insurance outside of their customers/clients for whom the insurance was purchased?
- Does the broker owe a duty of utmost good faith to the policyholder? To insurers?
- What is the measure of damages for broker negligence and how is it determined?
Peter J. Biging
Mr. Biging is an accomplished trial and appellate attorney with more than 30 years of experience as a litigator in the... | Read More
Mr. Biging is an accomplished trial and appellate attorney with more than 30 years of experience as a litigator in the state and federal courts of New York. As co-chair of the firm’s nationwide Management and Professional Liability practice group, he counsels and defends directors and officers against claims alleging fraud, negligence, and breach of fiduciary duties, and a variety of professionals against claims based on alleged errors and omissions (E&O) in the performance of their professional services. Mr. Biging also regularly litigates labor and employment practices liability claims, commercial disputes, and municipal liability claims premised on alleged civil and constitutional violations.Close
Senior Assistant General Counsel
Ms. Russello is a Senior Assistant General Counsel at Marsh & McLennan Companies (MMC). She is responsible for... | Read More
Ms. Russello is a Senior Assistant General Counsel at Marsh & McLennan Companies (MMC). She is responsible for providing litigation legal support to all of Marsh & McLennan Agency (MMA). Ms. Russello is the lead lawyer on all litigation brought against MMA and works directly with MMA’s senior business leaders to mitigate and manage all potential errors & omissions exposures. She is a trusted advisor to MMA senior management in making important legal and risk based decisions. Prior to supporting the MMA business, Ms. Russello worked on the Marsh USA Litigation team. She has been with MMC for 11 years. Prior to joining MMC, Ms. Russello was a commercial litigation associate at Willkie Farr & Gallagher in New York City. She is a graduate of Trinity College and Fordham University School of Law. Ms. Russello is a life-long New Yorker.Close