Common use of Responsibilities of Broker Clause in Contracts

Responsibilities of Broker. Broker understands that in providing coverage, CHENANGO is relying upon the accuracy of information provided by the insured through Broker and submitted to CHENANGO. It is the responsibility of Broker to disclose to CHENANGO the existence of any conditions which he is or reasonably should be aware of that may affect the insurability of the insured. Further, it is the responsibility of Broker to inform CHENANGO as to the type and amount of insurance coverage to be considered for quotation. CHENANGO assumes no responsibility with regard to the adequacy, amount or form of coverage obtained through any insurance carrier. Upon receipt of new, renewal and/or amended policies, the Broker assumes the responsibility for review of coverages, limits, terms, conditions, and exclusions for accuracy. CHENANGO assumes no responsibility with regard to reviewing policies for accuracy or following-up on change requests or cancellations.