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An insurance broker is an agent of the insured, not the insurer. This statement is correct. This statement is incorrect because an insurance broker acts

An insurance broker is an agent of the insured, not the insurer.

  1. This statement is correct.
  2. This statement is incorrect because an insurance broker acts on behalf of the insurer.
  3. This statement is incorrect because an insurance broker does not act on behalf of either the insured or the insurer.
  4. None of these answers are correct.

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