What is one limiting factor affecting a broker's choice of insurer?

One significant limiting factor affecting a broker's choice of insurer is the financial security of the insurer. Financial security refers to the insurer's stability and ability to meet its claims obligations. Brokers must ensure that they recommend insurers that have strong financial ratings and a proven track record of fulfilling their commitments to policyholders. If an insurer is financially unstable, it poses a risk not only to the broker's reputation but also to the clients who depend on the insurer for coverage and claims handling.

In contrast, while an insurer's popularity, marketing budget, and a broker's past experiences with various companies may influence decision-making, these factors do not directly impact the essential capacity of an insurer to pay claims. Hence, financial security remains paramount in the selection process. Choosing an insurer based on strong financial foundations ensures a broker can provide reliable coverage to clients, forming the backbone of trust in the insurance relationship.