Homework Help is Here – Start Your Trial Now!
Business
Management
A Broker arranges a homeowners policy for a new client and discovers that the insurance company has inadvertently issued a policy with a higher coverage limit than requested for no additional charge. What should the Broker do? OA) Inform the insurer and confirm if the issued policy is correct OB) Obtain the client's permission to approach the insurer for confirmation OC) Nothing, as there has been no error or omission by the Broker or the client OD) Report the abnormality to the Financial Services Regulatory Authority of Ontario (FSRA)

A Broker arranges a homeowners policy for a new client and discovers that the insurance company has inadvertently issued a policy with a higher coverage limit than requested for no additional charge. What should the Broker do? OA) Inform the insurer and confirm if the issued policy is correct OB) Obtain the client's permission to approach the insurer for confirmation OC) Nothing, as there has been no error or omission by the Broker or the client OD) Report the abnormality to the Financial Services Regulatory Authority of Ontario (FSRA)

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
See similar textbooks
icon
Related questions
Question

help asap

A Broker arranges a homeowners policy for a new client and discovers that the insurance company has inadvertently issued a policy with a higher coverage limit than requested for no additional charge. What should the Broker do? OA) Inform the insurer and confirm if the issued policy is correct OB) Obtain the client's permission to approach the insurer for confirmation OC) Nothing, as there has been no error or omission by the Broker or the client OD) Report the abnormality to the Financial Services Regulatory Authority of Ontario (FSRA)
Transcribed Image Text:A Broker arranges a homeowners policy for a new client and discovers that the insurance company has inadvertently issued a policy with a higher coverage limit than requested for no additional charge. What should the Broker do? OA) Inform the insurer and confirm if the issued policy is correct OB) Obtain the client's permission to approach the insurer for confirmation OC) Nothing, as there has been no error or omission by the Broker or the client OD) Report the abnormality to the Financial Services Regulatory Authority of Ontario (FSRA)
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Understanding Business
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Management Information Systems: Managing The Digi…
Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON
Business Essentials (12th Edition) (What's New in…
Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON
Fundamentals of Management (10th Edition)
Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON
SEE MORE TEXTBOOKS