Insurance departments ascertain that insurance producers, agents and brokers are competent and of good moral character before issuing them licenses to provide insurance products.
Insurance agents and brokers are professionals whose actions in placing insurance require compliance with the industry's standards of practice and skills.
Under Missouri law, an insurance agent or broker who undertakes to procure insurance for another for compensation owes a duty of reasonable skill, care and diligence in obtaining the requested insurance.
A federal appeals court has ruled that banks can require a homeowner to buy flood insurance covering the full replacement value of a home rather than the amount of the mortgage loan.
A federal appeals court has ruled that banks can require a homeowner to buy flood insurance covering the full replacement value of a home rather than the amount of the mortgage loan.
Insurance producers live in a competitive world. When an agent from one firm moves to another and brings along his clients, the old employer may sue the new employer and the employee for breach of non-competition agreements or other tortious conduct. Usually, the suits are pursued aggressively and because both...