Can an agent be held liable in negligence or breach of fiduciary duty for failing to warn an insured of the limitations of the policy?
British Columbia, Canada
The following excerpt is from Crown West Steel Fabrications v. Capri Insurance Services Ltd., 2001 BCSC 449 (CanLII):
In Siemens v. Unrau (1991), 44 C.C.L.I. 99 (B.C.S.C.) Callaghan J. said (at page 103): Once an insured is fully apprised of the coverage and the limitations thereof, as is the case here, and thereafter accepts the policy without indicating that the coverage falls short of what he seeks, then the agent has fulfilled his duty and consequently cannot be held liable in negligence or for breach of fiduciary duty.
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