Stanley recently moved back to Ontario after living abroad for two years. He purchased a vehicle and is asking his Broker for insurance quotes. One insurance company's quote is favourable but the company prefers not to insure Stanley because of the gap in his insurance history. What should the Broker do to act within the scope of his agreement with the insurance company? Obtain approval for the risk from the Principal Broker for approval and then submit the completed application to the insurer.• Discuss the risk with the insurer's underwriter for binding approval and then submit the completed application to the insurer.•Discuss the risk with colleagues first and then submit the completed application to the insurer.•Submit the application without the driving gap as this will get Stanley the best rate.
Stanley recently moved back to Ontario after living abroad for two years. He purchased a vehicle and is asking his Broker for insurance quotes. One insurance company's quote is favourable but the company prefers not to insure Stanley because of the gap in his insurance history. What should the Broker do to act within the scope of his agreement with the insurance company?
Obtain approval for the risk from the Principal Broker for approval and then submit the completed application to the insurer.
• Discuss the risk with the insurer's underwriter for binding approval and then submit the completed application to the insurer.
•
Discuss the risk with colleagues first and then submit the completed application to the insurer.
•
Submit the application without the driving gap as this will get Stanley the best rate.
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