The Ohio Court of Appeal recently provided some comfort to insurance agents and brokers regarding their responsibilities to clients with whom they have ordinary business relationships. This case demonstrates that insurance agents and brokers who wish to avoid litigation should make it clear to clients:
-That they are not a fiduciary for the insured.
-That they are simply carrying out the client's instructions and make no guarantees about the adequacy of the insurance.
-That they do not provide expert advice concerning the adequacy of limits.
-That an insured should carefully review the policy wording and declarations to determine that the policy limits are adequate.
-That an insured who is unsure of the adequacy of his or her limits should retain an expert in repair and reconstruction who can determine how much coverage is needed.
-That agents should protect themselves by carefully documenting the nature of their agent-client relationships.
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