This decision will no doubt impact the frequency of claims against producers, however, the IIAB of Arizona’s participation in a Friend of the Court status was instrumential in softening the impact by having the Court rule that the Damaron Agreement “Amount of Damages” and “negligence” can be challenged by the producer. That was a MAJOR victory for producers.
I have been an agent in Arizona for 29 years, and been a patner of a family run agency for 26 years. I have also been active as an instructor for insurance continuing education for the last seven years. I don’t know if agents realize the impact of this case, but without a doubt as errors and ommissions claims rise, and errors and ommission premiums escalate more and more agents will realize the importance of this case. What they may not realize is the important role the Arizona Independent Assocaition played behind the scenes.
If the Association had not payed several thousand dollars and filed an Amicus Brief as a friend to the court, the results could and probably would have been much worst. The way things were heading the Defendent could have layed down and the agent and company would have been stuck paying the judgement without having to show negligence. At least with this ruling, even though it is a bad situation for the agents of Arizona it could have been much worst if the Independent Insurance Agents Association of Arizona had not taken an active role.
I am very grateful to the Association, and the job they do for Arizona Agents.I know our insurance agency gets more than our money’s worth from this organization.
This decision will no doubt impact the frequency of claims against producers, however, the IIAB of Arizona’s participation in a Friend of the Court status was instrumential in softening the impact by having the Court rule that the Damaron Agreement “Amount of Damages” and “negligence” can be challenged by the producer. That was a MAJOR victory for producers.
I have been an agent in Arizona for 29 years, and been a patner of a family run agency for 26 years. I have also been active as an instructor for insurance continuing education for the last seven years. I don’t know if agents realize the impact of this case, but without a doubt as errors and ommissions claims rise, and errors and ommission premiums escalate more and more agents will realize the importance of this case. What they may not realize is the important role the Arizona Independent Assocaition played behind the scenes.
If the Association had not payed several thousand dollars and filed an Amicus Brief as a friend to the court, the results could and probably would have been much worst. The way things were heading the Defendent could have layed down and the agent and company would have been stuck paying the judgement without having to show negligence. At least with this ruling, even though it is a bad situation for the agents of Arizona it could have been much worst if the Independent Insurance Agents Association of Arizona had not taken an active role.
I am very grateful to the Association, and the job they do for Arizona Agents.I know our insurance agency gets more than our money’s worth from this organization.