Q1. A Florida insurance producer discovers that a client’s policy contains incorrect coverage information that could lead to a denied claim. What is the producer’s ethical and legal obligation?

• ○Notify the client immediately and assist in correcting the policy to reflect accurate coverage as required by Florida Department of Financial Services regulations.
• ○Wait until the client files a claim before addressing the coverage error to avoid unnecessary alarm.
• ○Advise the client to purchase a new policy without disclosing the error in the current one.
• ○Ignore the error since the insurer is responsible for claims processing and coverage verification.