Which of the following must a broker provide to an insurer when placing surplus lines coverage?

The requirement for a broker to provide clear and complete information regarding the risk to be insured is crucial in the context of placing surplus lines coverage. Surplus lines insurance is utilized for risks that cannot be placed in the standard insurance market due to various reasons, such as the nature of the risk or the amount of coverage required. Insurers need complete and accurate information about the risk involved to assess it properly and make informed underwriting decisions.

This includes details about the nature of the insured's operations, any existing claims history, loss exposures, and other factors that could influence the risk assessment. By providing this clear and comprehensive information, brokers help ensure that the insurer can evaluate the risk accurately, which is the foundation for determining coverage terms and conditions, including premiums.

In contrast, while information about other brokers, the insured's financial standing, or proposed premium costs may be relevant for some aspects of the coverage or negotiation process, they do not carry the same level of essentiality in the underwriting phase as the detailed description of the risk itself. Therefore, the emphasis on providing clear and complete risk information underscores its critical role in successful surplus lines transactions.