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When Insurance Carriers Decide To Get Even With Their Agents

When Insurance Carriers Decide To Get Even With Their Agents

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Published by crosscomplaint
When an insurance carrier files a lawsuit against their own insurance broker. This should scare every agent straight. Fraud and misrepresentations by brokers will lead to lawsuits by customers and insurance carriers.
When an insurance carrier files a lawsuit against their own insurance broker. This should scare every agent straight. Fraud and misrepresentations by brokers will lead to lawsuits by customers and insurance carriers.

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Published by: crosscomplaint on Sep 17, 2012
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08/11/2013

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 Insurance Agents and Brokers Stay Informed: http://www.crosscomplaint.com
Century Surety Company vs. Crosby Insurance Inc Should RemindEvery Insurance Broker--Be Honest
 by crosscomplaint.com© 2012 All Rights Reserved The relationship between an insurance broker and insurance carrier is complex.. There exists acontractual obligation to to indemnify and hold each other harmless especially when somethinggoes wrong. In other words, the broker and carrier are basically saying to each other--youtake care of me and I'll take care of you in so many words.Here's a sample indemnification and hold harmless from a typical agency agreement: But what happens if the insurance carrier believes those boundaries have been crossed by theagency for fraud or misrepresentation? This was the case when Century Surety Companydecided to file a lawsuit against Crosby Insurance Inc. in California for fraud, negligence,and negligent misrepresentation (
 ). The case originated when a construction customer (Baroco) of Crosby was sued for construction defects on a home they had built as general contractors. Baroco filed a claim

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