What does the Take All Comers Rule require from brokers?

The Take All Comers Rule requires brokers to provide quotes from all insurers they have contracts with. This means that when a potential client requests a quote for insurance, brokers must ensure that they offer the options available to them through their contracted insurers, regardless of the client's profile or the risk involved. This rule promotes transparency and accessibility in the insurance market, encouraging brokers to present all possible options to clients instead of selectively offering quotes based on factors such as the client's risk level or the insurer's underwriting criteria. As a result, clients receive a more comprehensive view of their options, helping them make informed decisions based on their individual needs and circumstances.

The other options do not accurately reflect the essence of the Take All Comers Rule. For instance, the rule does not dictate that brokers must provide quotes for all vehicle types or offer comprehensive insurance only, nor does it mention anything about reduced coverage options. The focus is primarily on the obligation to present all available insurer quotes to clients.