Which of the following is a duty of the replacing producer?

A key duty of the replacing producer is to present a signed Notice Regarding Replacement. This document is vital because it serves to inform the consumer about the implications of replacing an existing insurance policy with a new one. It is designed to ensure transparency throughout the process and to protect consumers from potential lapses in coverage or financial disadvantage caused by the replacement. This requirement is aligned with regulations aimed at safeguarding consumers, ensuring they understand what they are giving up and what they are gaining with new coverage.

The other options, while they touch on relevant aspects of the insurance process, are not explicitly required duties of the replacing producer. For example, providing a summary of the old policy can be helpful, but it's not a mandated step. Assisting in reviewing terms of the new policy is certainly beneficial for the consumer, but it does not address the specific legal obligation tied to the replacement notification process. Submitting premium payments to the replacing insurer is typically the responsibility of the insured or the agency, not specifically of the producer in the context of replacement duties.

Thus, the requirement to present a signed Notice Regarding Replacement clearly delineates the responsibility of the replacing producer in the context of insurance policy replacement in West Virginia.