Question: Omar, a Broker, has a client that has $1 million in liability coverage on his insurance policy. The client's renewal is approaching and Omar decides

Omar, a Broker, has a client that has $1 million in liability coverage on his insurance policy. The client's renewal is approaching and Omar decides to increase it to $2 million as the premium increase is minimal. Does Omar need consent from his client to amend the policy?

Step by Step Solution

3.38 Rating (148 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

While I am an AI with knowledge across a variety of subjects the specific rules and regulations rega... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!