What term describes the use of threat or force to restrict insurance business?

The term that accurately describes the use of threat or force to restrict insurance business is coercion. Coercion entails the application of pressure, intimidation, or threats to compel someone to act in a certain way, which in this context refers to influencing or restricting the choices available to individuals regarding insurance transactions.

In insurance, coercion can manifest in various ways, such as pressuring clients to purchase policies or discouraging them from exploring other options. This behavior not only undermines the integrity of the insurance profession but can also lead to unfair market practices and potential legal repercussions.

Understanding coercion is vital for insurance producers, as it emphasizes the importance of ethical practices in conducting business and maintaining a competitive yet fair marketplace for clients.