Which of the following is NOT a responsibility of an insurance broker?

Determining the premium amounts for policies is not a responsibility typically assigned to an insurance broker. Instead, the responsibility of establishing the premium sits with insurance companies who assess various factors, including risk profiles and underwriting criteria, to calculate the appropriate cost of coverage.

In practice, brokers work as intermediaries between clients and insurers. Their role involves understanding clients' needs, providing them with expert advice on risk management, assisting in selecting the coverage that best meets those needs, and negotiating terms with insurers. Brokers leverage their expertise to facilitate the process and ensure that clients receive suitable options based on their specific circumstances, but they do not set the prices themselves. This clarifies why determining premium amounts falls outside a broker's responsibilities, even though they may help clients understand cost factors and value of coverage.