Broker Liability

Newport Beach Broker Liability Attorney

Broker LiabilityDealing with insurance companies of any kind is rarely an easy or enjoyable experience. If you have recently encountered an issue that has made you believe an insurance broker failed to provide you with the insurance you needed, you could have grounds for a broker liability claim against the insurance agent and their employer. A Newport Beach broker liability attorney can help you hold them accountable for the damages you sustained and ensure you have the right insurance coverage going forward.

Why Choose the Winthrop Law Group, PC?

You might wonder whether you have any grounds for legal recourse for losses you sustained as a result of your ineffective coverage. If you have dealt with bad faith insurance and an insurance broker has failed to help you secure the insurance coverage you requested and expected, contact our office. At the Winthrop Law Group, PC, our team of attorneys have extensive experience handling difficult insurance cases involving bad faith and broker liability.

In every case we accept, we thoroughly review our client’s situation and determine whether an insurance broker failed in their professional duties. Some insurance companies and their employees resort to underhanded and unethical tactics to secure the highest premiums they possibly can and denying claim payouts whenever possible. In cases of broker liability, the broker failed to provide the policyholder with the insurance coverage they needed. Every insurance broker has a professional obligation to recommend appropriate coverage for a client’s needs, not to seek profit for their employer or dupe the client into an ineffective policy with expensive premiums.

You can expect rapid, responsive legal representation from the team at the Winthrop Law Group, PC. Our team is not intimidated by big insurance companies or their lawyers, and we have successfully handled many broker liability cases involving high-profile companies. If you work with a Newport Beach broker liability lawyer from the Winthrop Law Group, PC, we are ready and able to put the full range of our firm’s experience and resources at your disposal in your broker liability case.

Understanding Broker Liability

Whenever an insurance broker sells a client insurance, the broker has a professional duty to get the client the insurance coverage they need. Insurance companies price premiums based on policyholders’ perceived levels of risk and the extent of the coverage they request. A high-risk policyholder that needs expansive coverage will typically have higher premiums than a policyholder with minimal risk and basic coverage.

Broker liability comes into play if it is revealed that an insurance broker:

  • – Did not adhere to proper internal company policy.
  • – Failed to provide a policyholder with relevant information about their insurance options.
  • – Intentionally withheld information from a policyholder to coerce them into a specific insurance policy.

When this kind of failure or refusal to meet a professional duty occurs, the broker can be liable for any damages the policyholder incurs that would have been covered had they had the correct coverage.

Potential Arguments Against a Claim of Broker Liability

An insurance broker can contest a claim of broker liability if they believe the client forgot or omitted important information in determining their insurance options. For example, a broker may argue that a client did not disclose key information that would have swayed them toward a different insurance coverage option. The broker only has the information the client provides to make a professional decision. If the broker feels the client left out information that would have changed their interpretation of the client’s needs, this may form the broker’s defense against a claim of broker liability.

While a broker may claim they did not know of important details that may have changed their recommendations to the client for coverage, there are still ways to hold a broker accountable for damages sustained due to inadequate insurance coverage. One of the most common reasons behind broker liability claims is brokers misleading their clients. If a broker recommended an ineffective insurance policy to earn a higher commission, or if they made an error during the process of determining your coverage options, you may have enough to prove professional negligence or intentional wrongdoing and succeed with your broker liability claim.

Building Your Broker Liability Case

If you believe an insurance broker lied to you, misled you, or made a serious error that resulted in ineffective insurance coverage and other economic losses, call our office. Your Newport Beach broker liability attorney will help you determine the best course to a resolution. In most cases, you will need to gather all of the materials provided to you by the insurance broker, including brochures and advertisements related to your coverage terms and policy. You should also provide your attorney with copies of all correspondence you had with the broker if you communicated via text, email, or voicemail.

Your Newport Beach broker liability lawyer will review the evidence you provide to determine whether you have grounds for a valid broker liability lawsuit. If so, your attorney will help you start the process of filing a broker liability claim against the defendant named in your case. If successful, an experienced Newport Beach broker liability attorney can help you secure compensation for any losses you sustained due to the broker’s professional negligence or willful misconduct. Depending on the severity of the broker’s actions, they may face professional consequences or even criminal penalties.

Find Legal Counsel Now

Act quickly if you believe you have solid grounds for a broker liability claim. Insurance companies work swiftly and ruthlessly at times to protect their interests, and a broker liability claim will look bad for any insurance carrier. They will likely want to seek a resolution to your claim as quickly as you do to avoid a public relations issue, and the right legal team on your side can encourage the defendant in your claim to the negotiating table quickly.

If you believe an insurance broker misled you or failed to arrange an appropriate insurance policy that led to significant economic damages, you have the right to file a lawsuit against the broker for broker liability. The team at the Winthrop Law Group, PC, is ready to accept new clients for broker liability claims in Newport Beach. Contact us today to arrange a consultation with an experienced Newport Beach broker liability attorney.