Recent News:

Last January Robert Scirocco spoke to the NAIW of Northern New Jersey, an organization of insurance brokers and agents, in Paramus, New Jersey.  At this appearance, he discussed the pitfalls that confront these practitioners.  He also presented “Scirocco’s 9 Rules of Broker Coverage and Liability.” 

They are as follows:

1. If you promise the customer insurance coverage, get it.
2. Ignorance of available coverage is no defense.
3. Disclose unprotected risks.
4. Make a reasonable investigation into company financial stability.
5. Broker may be responsible for loss to a third party.
6. The broker pays for loss directly and cannot hide behind the insurance company.
7. Even if insured did not read the policy, broker may be responsible.
8. Don’t provide coverage that does not cover the risk.
9. The best defense is always a material misrepresentation by the insured.