One of the duties of an insurance broker is to:

Establishing a client's needs is a fundamental duty of an insurance broker. Brokers act as intermediaries between clients and insurers; their primary role is to understand the specific requirements and circumstances of their clients. This includes assessing the risks that a client may face, understanding their financial situation, and identifying the types of coverage that would best protect their interests. By carefully determining a client's needs, brokers can ensure that they recommend suitable insurance products that provide adequate coverage. This client-focused approach is essential in fostering trust and delivering value within the insurance transaction process.

The other options relate to functions that fall outside the primary responsibilities of an insurance broker. Developing insurance laws and regulating insurance markets are tasks typically handled by governmental and regulatory bodies, not brokers. Additionally, setting premiums is a function of insurers who calculate rates based on their underwriting criteria and market conditions. Thus, the broker's role is more about facilitating the relationship between clients and these entities rather than determining legal frameworks or pricing strategies.