News: Quinn saga highlights 'chicken letter' risks
Brokers have been warned against relying too heavily on disclaimers to protect themselves from breaching their duty of care, in light of the recent Quinn scare.
After taking legal advice, the British Insurance Brokers' Association (Biba) has raised doubts over the validity of disclaimers in most situations.
The trade body has defined a disclaimer, known in the market as a 'chicken letter', as a document "used to disclaim any liability owed to the customer".
Steve White, head of compliance and training at Biba, said that while issuing them to consumers would more than likely breach unfair contract terms regulations, there was a grey area when dealing
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