Final answer:
Insurance producers are licensed individuals who sell insurance policies by determining premiums to cover potential losses and ensure company profitability.
Explanation:
Insurance producers are individuals licensed to sell insurance. They play a crucial role in the business model of insurance companies by offering policies to customers and charging premiums for protection against specified risks. The premiums they set reflect the expected value of potential losses, ensuring that insurance companies remain profitable.
Learn more about Insurance Producers and Business Model of Insurance Companies here:
https://brainly.com/question/40533702
