Friedman writes:
An insured calls to report a loss that appears to be questionable. What are the ethical responsibilities of an agent for this type of claim? Do the responsibilities differ if the producer is a broker?
I believe the responsibility lies with the insurance companies claims department and not with the agent or broker that sold the policy. The agent or broker should obviously explain what is covered under the circumstances and then leave the claim up to the insurer.
The agent is not the one that will make the initial or final decision as to whether the claim is valid or not. With that in mind there is no sense debating with the client about the validity of the claim when the insurer has a staff of people that deal with legitimate and questionable claims all day.
What are your thoughts on this subject?
Comment Preview