Disputes involving insurance and finance brokers often turn on a single question: did the broker meet the standard expected of a competent professional? Whether a claim is declined, a policy proves inadequate, or advice is alleged to be negligent, the answer usually requires an expert.
A broker expert witness gives independent opinion on broker conduct, market practice and the duties owed to a client.
What is a broker expert witness?
A broker expert witness is an experienced insurance or finance broker who can opine on industry practice, the scope of a broker's duty, disclosure obligations and whether the advice or service provided met the accepted standard.
When you need one
- A declined claim allegedly caused by a broker's error or omission
- Inadequate cover or a gap between the client's needs and the policy placed
- Alleged failures in advice, disclosure or duty of care
- Disputes over commissions, conflicts or remuneration
- Assessing what a reasonable broker would have done in the circumstances
What they do
- Review the placement file, correspondence and policy documents
- Explain the relevant market practice and broker obligations
- Opine on whether the broker's conduct met the expected standard
- Identify what a competent broker should have advised or arranged
- Report and give evidence on standard of care and causation
Choosing the right expert
Brokerage is specialised, commercial, personal lines and finance broking differ. Look for current or recent market experience in the relevant class, independence from the parties, and a clear grasp of the duties a broker owes.
How Experts Edge helps
Experts Edge matches litigation teams with broker and financial-services experts who understand the relevant market, with conflicts screened before any introduction.