CII I10 Practice Questions - CII I10 Insurance Broking Fundamentals Exam

What is the primary economic rationale for the existence of insurance brokers in the insurance market?

They underwrite risks that insurers are unwilling to accept They reduce information asymmetry by matching clients' needs to suitable insurers They guarantee claims payments when an insurer becomes insolvent They set the premium rates that insurers must charge

Correct Answer:

They reduce information asymmetry by matching clients' needs to suitable insurers

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