Which option describes an employee that may act as both an agent and a broker?

The option that describes an employee who may act as both an agent and a broker is indeed the producer. A producer is a professional who represents either an insurance company (acting as an agent) or clients seeking insurance coverage (acting as a broker). As an agent, a producer has the authority to bind coverage on behalf of the insurance company and can facilitate the purchase of insurance products for clients. Conversely, when functioning as a broker, the producer acts in the interest of the client, negotiating with multiple insurers to find the best coverage options.

This dual capacity allows producers to navigate both sides of the insurance transaction, serving the needs of clients while also representing the interests of the insurance companies they work with. The versatility of producers makes them integral to the insurance distribution process, as they can customize the approach based on whether they are acting on behalf of an insurer or a client.