Question

Which one of the following statements is correct with respect to customers' insurance needs?

A. The majority of customers share the same insurance needs.
B. Insurance professionals are responsible for knowing minimum requirements and ensuring they are met.
C. Generally, coverage cannot be tailored to meet an individual customer's needs.
D. A customer service representative can meet customers' needs without fully understanding policy forms and endorsements.

Answer 1

The correct statement with respect to customers' insurance needs is that insurance professionals are responsible for knowing minimum requirements and ensuring they are met.

Step-by-step explanation:

The correct statement with respect to customers' insurance needs is B. Insurance professionals are responsible for knowing minimum requirements and ensuring they are met. Insurance professionals play a crucial role in understanding and meeting the insurance needs of customers. They are responsible for knowing the minimum requirements set by the law and making sure that these requirements are satisfied. This helps ensure that customers are adequately protected and compliant with the law.

For example, in many states, car owners are legally required to have auto insurance. Insurance professionals, such as agents and brokers, help customers understand the minimum coverage requirements for auto insurance and guide them in selecting a suitable insurance policy.

By having knowledge of the minimum requirements and ensuring compliance, insurance professionals can help customers meet their insurance needs.