National Underwriter is highlighting independent agents and brokers in this issue, so let's declare today Independents' Day!
The cases I've seen fall into two main groups: failure to place coverage and to exercise independent judgment. Here, I'm focusing on the second type from the plaintiff's point of view. Next time, we'll look at the defendant's side.
If the professionals offer only the products of the one insurer with which they are contracted (a captive or career agent) the agent is not independent. But many agents have nonexclusive agency agreements with multiple carriers and may also act as brokers in representing applicants to insurers with which they have no agency agreements.
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