Ceiling liability
Hugh Price explores the case for capping liability and asks how brokers can implement this
In a recent article, Tony Cornell of Cornell Consulting asked the question: "Are brokers still as safe as houses?" (Insurance Age, March 2009). The point he was trying to make was that in the recessions of the 1980s and 1990s, 98% of brokers survived and lived to prosper, but conceded that the conditions today are rather different.
But what steps, if any, can insurance brokers take to protect their business from a catastrophic claim?
Brokers invariably protect themselves against claims by
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