Biba publishes liability guidance for brokers
The British Insurance Brokers’ Association (Biba) has launched a new publication that aims to clarify the issue of limitation of liability for brokers when advising clients.
Facts about limitation of liability was driven by Biba’s London Market Region Committee (LMRC) and aims to help brokers to manage their financial risk and ensure that it is proportionate to client engagement.
Legal opinion was sought from lawyers Beachcroft in order to produce the publication, which provides background on the regulatory and legal position, information on what a limitation of liability clause or agreement might contain and what it should not contain.
It is the first major piece
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