Thomson Rogers partners Darcy Merkur and Ian Furlong were quoted in a recent Law Times article “Common $1M liability coverage not enough this day and age: lawyer” by Mallory Hendry discussing insurance companies needing to do a better job informing clients about liability coverage.
Thomson Rogers partner Darcy Merkur says,
In the right case, we would absolutely pursue a broker for giving bad advice, especially in this day and age.
Darcy continues to explain that the legal community has been working to “raise the ante” by pursuing brokers selling $1-million liability policies to people who do not recognize that $1-million is simply not enough to protect them against liability in a serious accident.
Thomson Rogers partner Ian Furlong says:
The insurer has all the knowledge. I do think, in that context, given that the insurer has a duty of good faith to its insured, that there is an obligation to tell the insured about optional benefits and what it would cost to increase third-party insurance limits.
Read the full article here.