Which duty is explicitly stated as an obligation for brokers and agents?

Brokers and agents have a professional duty to act with competence and trustworthiness, which is a fundamental ethical obligation. This duty ensures that they provide clients with accurate information, appropriate advice, and fair representation of the products they offer. Acting with competence means they must have a thorough understanding of the insurance products and market conditions and must apply this knowledge in the best interests of their clients.

Trustworthiness reinforces the expectation that brokers and agents will act honestly, maintain confidentiality, and prioritize the clients' needs. This obligation helps to build strong relationships between clients and brokers, which is crucial for maintaining consumer confidence in the insurance industry. Ultimately, fulfilling this duty of competence and trustworthiness is essential for the integrity of the insurance profession and ensures a reliable channel for clients seeking protection for their assets.