Which of the following statements about insurance brokers is (are)true?
I.They legally represent the insured rather than the insurance company.
II.They are prohibited from being licensed as agents.
A)I only
B)II only
C)both I and II
D)neither I nor II

Question

Quizplus · Accepted Answer

Insurance brokers legally represent the insured, not the insurance company. However, they are not prohibited from being licensed as agents. In fact, some insurance brokers may also hold licenses as agents in order to provide a wider range of insurance options to their clients.

Which of the Following Statements About Insurance Brokers Is (Are)true