Claims Process Duties and Responsibilities of Brokers and Agents

Summary

This practice note addresses the duties and responsibilities of insurance brokers and agents in the claims process. Although there is a technical difference between brokers and agents, they are licensed similarly and the same state insurance statutes and regulations apply to both. They, and other kinds of licensees are often called "intermediaries," a term that will be used in this practice note. The practice note focuses on property and casualty claims, although the principles addressed apply to any line of insurance. It also discusses key issues about which insurance intermediaries must be mindful in the claim process and best practices to help intermediaries avoid pitfalls.