What best describes the responsibilities of brokers under the RIBO Act?

The responsibilities of brokers under the RIBO Act are accurately described by the option that states they must inform clients and assist in finding suitable insurance solutions. This reflects the fundamental role of insurance brokers in the industry. Brokers are expected to provide clients with professional advice tailored to their individual insurance needs. This involves understanding the client's situation, explaining the various insurance products available, and helping clients choose the most appropriate options based on their requirements and circumstances.

Brokers also have a duty to act in their clients' best interests, which means they must place the needs of their clients above their own and ensure that the recommendations made are appropriate for the client’s needs. This client-centric approach is central to the responsibilities of a broker and is mandated by the regulations set forth in the RIBO Act.

The other options do not accurately capture the essence of a broker's responsibilities as defined by the RIBO Act. Selling only the cheapest products does not prioritize the client's needs. Managing claims is generally not within the broker's primary responsibilities, as that's typically a function handled by insurers. Advertising without restrictions contradicts the need for ethical marketing practices and compliance with regulatory guidelines. Thus, choosing the option that emphasizes informing and assisting clients aligns perfectly with the core duties laid out for