| Summary: | 碩士 === 淡江大學 === 保險學系保險經營碩士班 === 91 === In recent years, insurance agents’ and brokers’ professional liability exposures have increased over the past several decades. One significant change came in how agents and brokers began representing themselves to the public. Many of them held themselves out to be "insurance counselors," "risk managers," "professionals," etc. However, professionalism is a double-edged sword. While it is true that greater services provide professional and personal rewards, E&O claim risk to an insurance agent or broker can increase because of those services.
An insurance agent or broke has a duty to the insured and the insurer. The duty to the insured consists of using due care and diligence and of acting in good faith. An insurance agent''s duty to the insurer is to act in accordance with his agency contract. Insurance agents and brokers professional liability insurance protects an insurance agent or broker against claims made against him by reason of negligent acts, errors or omissions on the part of the insured and his employees in the conduct of their business of insurance agents or insurance brokers.
This study is intended to be a guide to insurance agents and brokers for evaluating professional liability exposure. Secondly, this article aims at studying the latest development and future trend of insurance marketing in Taiwan by referencing the characteristics and strength in other countries, such as the United States, England, Japan, European Communities and Mainland China. Finally, this study provides a comparative analysis of the different forms of professional liability coverage designed specifically for the insurance agent and broker. Considerations such as qualifications of insurance carriers and review of applicability of coverage to the needs of the insurance agent and broker are discussed relative to coverage selection.
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