Which of the Following Statements Is (Are)true with Regard to Surplus

question 26

Multiple Choice

Which of the following statements is (are) true with regard to surplus lines brokers?
I.Surplus lines brokers are retail producers who deal directly with insurance consumers.
II.Surplus lines brokers do have authority to bind insurers.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Medical Coverage

Insurance protection that covers part or all of an individual's healthcare expenses.

Deductible

A deductible is the amount a policyholder must pay out-of-pocket before an insurance company will cover the remaining costs of a claim.

Major Surgery

A type of surgical procedure that involves significant bodily alterations, typically requiring anesthesia and a period of hospitalization.

Insurance Premiums

Payments made periodically to an insurance company in exchange for coverage and protection against financial loss.