Chapter 1-10 Multiple Choice Quiz Questions

Question 1

Ch 1. Which of the following is an appropriate question to ask when determining whether a risk should be rated by class or schedule?

Answer 1

Can this risk be placed in a class? When determining whether the risk should be rated by class or schedule, the underwriter should consider if the risk can be placed in a class.

Question 2

Ch 1. Loadings are additional charges added to the basic rate for certain features of a risk - True or False?

Answer 2

True - An underwriter could add loadings (additional charges) to the basic rate for features of the risk that are considered to be more hazardous than the average risk in that class

Question 3

Ch 1. Underwriters cannot modify coverage to address the needs of existing or prospective insureds - True or False?

Answer 3

False - One of an underwriter’s important kills is the ability to chose and perhaps modify coverage to address the needs of an existing or prospective insured

Question 4

Ch 1. Loss control inspectors typically group hazards in four main categories, including

Answer 4

Physical hazards - loss control inspectors typically group hazards in four main categories, including physical hazards. Physical hazards are any aspect of the physical risk that may make a loss more likely.

Question 5

Ch 1. Good communication is an adversarial process - True or False?

Answer 5

False - Good communication is not adversarial, and good business communication avoids confrontation. The other person should be treated as a partner with whom the underwriter works to achieve a common goal, rather than a subordinate or an adversary

Question 6

Ch1. How is self-insured retention (SIR) different from a deductible?

Answer 6

The insurer is not involved in losses that fall within the SIR

Question 7

Ch 1. What are LDFs?

Answer 7

Loss Development Factors

Question 8

Ch 1. What are the four main categories of hazards identified by loss control inspectors?

Answer 8

Attitude to loss prevention on the part of the risk’s management, physical hazards, housekeeping, and neighbourhood

Question 9

Ch 1. What coverage will a wrap-up policy provide for Shady Acres project?

Answer 9

It will address liability exposures arising out of the work on the project for all parties

Question 10

Ch 1. What is a potential issue with a manuscript wording?

Answer 10

It is unique and, therefore, untested

Question 11

Ch 1. When should the class rating approach to rating be used?

Answer 11

When statistics can be gathered on a large number of risks that share common characteristics

Question 12

Ch 1. When should the class rating approach to rating be used?

Answer 12

When statistics can be gathered on a large number of risks that share common characteristics

Question 13

Ch 1. When should the schedule rating approach to rating be used?

Answer 13

When the available statistical data are fragmented are too fragmented for class rating

Question 14

Ch 2. Does statistically improbable loss occur?

Answer 14

Yes. The statistical improbability of loss does not rule out the possibility of it. Especially when studying losses due to a natural catastrophe, the underwriter should remember that possibility is not the same as probability

Question 15

Ch 2. How is the loss triangle method used?

Answer 15

It groups losses by year over successive time periods to show a history of change in the amounts of all losses. the loss triangle method groups losses year over successive time periods to show a history of change in the amounts of all losses. By reviewing patterns of loss development factors calculated in this historical loss triangle, the actuary or underwriter can estimate future losses.

Question 16

Ch 2. Losses must be analyzed for ______ that will lead the underwriter to an assessment of the experience

Answer 16

Patterns

Question 17

Ch 2. Underwriters must distinguish between _______ and _______ risks

Answer 17

Undesirable and desirable. As with the risk that has had one or more serious losses, the risk that has had none must be scrutinized on its merits, which may be due to pure luck in spite of poor conditions, or it may reflect management’s commitment to loss prevention. the difference is between undesirable and desirable risks.

Question 18

Ch 2. What extra source of information may an experienced underwriter have that an inexperienced underwriter will need to develop?

Answer 18

Familiarity with the industry. The underwriter’s familiarity with the industry of which a risk is part could arise either from extensive experience in underwriting the industry or from direct experience working in the industry.

Question 19

Ch 2. What formula is used to project settlement values?

Answer 19

Total incurred losses x Loss development factor. Once loss development factors have been calculated for an account, the underwriter can go back and project losses at their ultimate settlement values as follows: Total Incurred Losses x Loss Development Factor

Question 20

Ch 2. What is a loss run?

Answer 20

A summary or report of loss experience for a risk over a specified time. A loss run is a summary or report of loss experience for a risk over a specified time.

Question 21

Ch 2. what is the formula used to calculate an incurred loss ratio?

Answer 21

Total incurred losses / Earned Premium. Incurred loss ratio is the ratio of incurred losses to earned premium.

Question 22

Ch 2. What situation happens frequently with many clients, but causes an underwriter to have an incomplete loss picture for an insured?

Answer 22

Unreported losses. Underwriters should consider the situations in which the insured is covered but does not report recurrent losses that, according to the statistics, frequently happen. The loss picture for an insured can look very different when one looks beneath the surface presented by the loss run.

Question 23

Ch 2. Which two related concepts should an underwriter understand regarding losses and claims?

Answer 23

Loss frequency and Loss severity

Question 24

Ch 3. The amount of insurance for a project site should be _______

Answer 24

The estimated completed value of the project. The amount of insurance for a project site should be the same as the estimated completed value of the project. This should include the value of landscaping, hoardings, site preparation, and other items if they are meant to be insured

Question 25

Ch 3. What are primary considerations when underwriting builders insurance?

Answer 25

Qualifications and expertise of the policyholder, natural features of the site, and methods of type of construction

Question 26

Ch 3. What are two causes of loss covered by equipment breakdown insurance but typically excluded by an all-risk property policy?

Answer 26

Mechanical breakdown and Electrical arcing. An all risks property policy usually excludes loss arising from the explosion, bursting, or rupture of boilers and pressure vessels, mechanical breakdown, and electrical arcing. An equipment breakdown policy complements the property policy and fills in certain gaps in its coverage by responding to all these causes of loss.

Question 27

Ch 3. What is contingent business interruption insurance?

Answer 27

Insurance for a business interruption caused by the interruption of a supplier's or the client's business

Question 28

Ch 3. What is covered by an equipment breakdown policy?

Answer 28

Loss from a sudden and accidental breakdown of an object resulting in physical damage to the object and any resultant property damage directly caused by the breakdown.

Question 29

Ch 3. What is the difference between the American and British forms of business interruption insurance?

Answer 29

In the American system, an insured who suffers an interruption of business is considered indemnified after the product and a place to sell it have been restored. In the British system, business is considered interrupted for as long as the level of business income is affected.

Question 30

Ch 3. What risk is more likely to occur in a property with a legalized grow operation?

Answer 30

Fire

Question 31

Ch 3. What type of inspection is important for most equipment breakdown insurers?

Answer 31

Loss prevention inspection

Question 32

Ch 3. What was included in the IBC Homeowners forms after the passage of the Cannabis Act?

Answer 32

A special limit applying a specified dollar limit to coverage of "cannabis in all consumable forms and cannabis plants, whether for recreational or medicinal use"

Question 33

Ch 3. Who is generally named as insureds in a builders risk insurance policy?

Answer 33

The general contractor and the owner

Question 34

Ch 4. Umbrella liability policies provide the same coverage as the primary policy - True or False?

Answer 34

False - The umbrella policy provides additional limits of insurance in excess of underlying limits. Unlike the excess policy, the umbrella policy provides broader coverage than the primary policy.

Question 35

Ch 4. What is another name for professional liability insurance?

Answer 35

Errors and Omissions - Professional liability insurance also known as errors and omissions insurance covers liability exposure from providing a specialized service while practising a profession. It covers liability arising out of negligent acts, errors, and omissions in the delivery of professional services or the failure to deliver those services

Question 36

Ch 4. What area is covered by an umbrella policy

Answer 36

Worldwide - The coverage provided by umbrella policies is worldwide. As with all other aspects of an umbrella policy, however the underwriter must review and confirm this feature

Question 37

Ch 4. Fraudulent, dishonest or criminal acts are typically exclusions from a Directors and Officers policy

Answer 37

True - Directors and officers insurance does not insure against fraudulent, dishonest of criminal acts to insure against such acts would be against public policy.

Question 38

Ch 4. Contractors seeking wrap-up insurance must have an established record of

Answer 38

Financial and business competence. Contractors seeking wrap-up must have an established record of financial and business competence.

Question 39

Ch 4. How should an underwriter analyze the financial strength of an enterprise?

Answer 39

Analyze the latest annual report and financial statements for the risk and obtain a current financial analysis from a third party. compare the risk with others in its industry group using financial ratios.

Question 40

Ch 4. The wording for wrap-up insurance is the insurers standard liability wording with amendments regarding which of the following?

Answer 40

Named insured section, description of operations, and aggregate limits of insurance

Question 41

Ch 4. What does it mean if professional liability policy wordings are written on a claims-made basis?

Answer 41

It covers claims even if the wrongful act that gave rise to the claim did not take place during the policy period - provided that it did not take place before the retroactive date stated in the policy

Question 42

Ch 4. What does SIR stand for when referring to an excess policy?

Answer 42

Self-Insured Retention - One reason a standalone excess policy is written is that the excess policy may stand in excess of an insureds SIR

Question 43

Ch 4. what is directors and officers insurance?

Answer 43

Insurance to defend and indemnify directors and officers of a profit or non-profits company. Directors and officers insurance ins basically a specialized form of liability insurance. In effective, it functions as errors and omissions insurance to cover the obligation of an insured enterprise, whether non-profit or for profit, to defend and indemnify its directors and officers for claims made against them

Question 44

Ch 4. What is the performance of a duty of care for a profession?

Answer 44

Performing to the standard of other professionals in a field

Question 45

Ch 4. What is the purpose of excess policy?

Answer 45

To provide additional limits of insurance. The excess policy typically follows form - the provisions of the excess policy follow or correspond to, the provisions of the primary policy. Essentially, the sole purpose of the excess policy is to provide additional limits of insurance

Question 46

Ch 4. What is wrap-up insurance?

Answer 46

It insures against exposure to liability for loss or damage to third parties on the part of participants in a commercial construction project, whether small or large, a new building or a renovation

Question 47

Ch 4. Which of the following factors will have the largest influence in how much directors and officers insurance is needed?

Answer 47

Whether the company is private or publicly traded and whether its for-profit or non-profit enterprise

Question 48

Ch 4. Which people involved with a project will the underwriter need detailed background information for while considering whether they will issue a wrap-up policy.

Answer 48

Named insured, owner, general contractor and construction manager

Question 49

Ch 5. Which of these companies experienced a major privacy breach that affected 3 billion user accounts?

Answer 49

Yahoo

Question 50

Ch 5. what is an example of a widely used ridesharing app?

Answer 50

Uber. Established in 2010, is one of the most widely used ridesharing services and is available through the Uber app

Question 51

Ch 5. What is Level 3 of the levels of vehicle automation?

Answer 51

Conditional automation. Level 3 vehicle automation is conditional automation, where all aspects of the dynamic driving task is completed by an automated system, with th eexpectation that the human driver will respond appropriately to an intervention request.

Question 52

Ch 5. What is an example of a phishing scam?

Answer 52

Deactivation scare is a phishing scam where an email claims the recipients account will be deactivated unless they immediately follow a link and enter their name/password

Question 53

Ch 5. In what year was a ridesharing endorsement first offered in Ontario?

Answer 53

2016, a major Canadian insurer launched a ridesharing endorsement in Ontario

Question 54

Ch 5. What was the term AI coined?

Answer 54

1956.

Question 55

Ch 5. What is a typical exclusion for cyber risk insurance?

Answer 55

Reputation damage. Cyber risk insurance excludes hard to quantify losses, such as reputation damage, lost intellectual property, some class action lawsuits and future losses

Question 56

Ch 5. What is FUS?

Answer 56

Fire Underwriting Survey. Is a national organization that provides data on public fire protection for underwriting purposes

Question 57

Ch 5. What do the words block and chain mean in the term blockchain?

Answer 57

Block - digital information stored in a public database (the chain)

Question 58

Ch 5. In what year did cybercrime become the second most common type of economic fraud affecting Canadian businesses?

Answer 58

2015

Question 59

Ch 5. What is the oldest and most widely recognized provided of ratings, financial data, and news with an exclusive focus on the insurance industry?

Answer 59

AM Best Rating Services.

Question 60

Ch 5. what is the unique identifying code give to a specific block in a blockchain?

Answer 60

Hash.

Question 61

Ch 5. In what year was an insurance policy created to cover people who use Airbnb?

Answer 61

There is currently no insurance policy on the market to cover people who use Airbnb

Question 62

Ch 5. Underwriting directors and officers liability coverage for blockchain companies is limited because _________

Answer 62

The regulatory environment is constantly evolving

Question 63

Ch 5. What allows a car to be self-driving?

Answer 63

Artificial intelligence, sensor technology, and on-board computing

Question 64

Ch 5. What are some potential benefits of blockchain technology to the insurance industry?

Answer 64

Reduced costs, simpler and faster transactions, and enhanced ability to combat fraud

Question 65

Ch 5. What is a virtual team?

Answer 65

A team with members who are not physically working together in one location

Question 66

Ch 5. What is artificial intelligence?

Answer 66

The simulation of human intelligence processes by machines

Question 67

Ch 5. What is behavioral policy pricing?

Answer 67

Data from telematic and wearable sensors allowing for lower premiums for less risky behavior

Question 68

Ch 5. What is cyber risk?

Answer 68

Any risk of financial loss, disruption of business, or damage to an organization's reputation because of a failure of its information technology systems

Question 69

Ch 5. What is the sharing economy?

Answer 69

Digital platforms and apps that make connecting and sharing convenient, simple and secure

Question 70

Ch 5. What organization has developed standards for eDocs and electronic signatures for the insurance industry?

Answer 70

Centre for the Study of Insurance Operations

Question 71

Ch 6. Earths yearly average temperature has been warmer than the combined average temperature for all of the twentieth century since what year?

Answer 71

1998

Question 72

Ch 6. From an underwriting perspective, what is a distinction between wildfire and other types of fire?

Answer 72

Wildfire is made more likely and more dangerous by climate change

Question 73

Ch 6. How many levels of flood risk represented?

Answer 73

Through designated zones

Question 74

Ch 6. How much did the Canadian insurance industry lose in 2018 due to severe weather catastrophes?

Answer 74

1.9 Billion

Question 75

Ch 6. Water damage accounts for what percentage of home insurance claim costs?

Answer 75

50%

Question 76

Ch 6. What is a limitation for binding coverage on risks near a wildfire?

Answer 76

Any risk or structure within a certain radius of a fire classified by a government as out of control

Question 77

Ch 6. What is a method of mitigating overland water losses?

Answer 77

Clearing debris from storm drains

Question 78

Ch 6. What is one reason that water damage claims over the years have escalated in both frequency and severity?

Answer 78

Finished basements

Question 79

Ch 6. What is the highest amount wildfires have cost insurers worldwide in a single year?

Answer 79

14 billion

Question 80

Ch 6. What is the product of burning fuel that is warming Earth's atmosphere?

Answer 80

Greenhouse gases

Question 81

Ch 7. What is the best source of information about a risk's finances?

Answer 81

The risk's annual report. Generally, the best sources of financial information are the risk's annual or quarterly reports to shareholders

Question 82

Ch 7. Underwriters review financial statements to assess a risk's ability to pay premium - True or False

Answer 82

False - Underwriters review financial statements to assess a risk and identify problems that may affect their decisions

Question 83

Ch 7. What analysis provides information on the environment within which a company will operate?

Answer 83

SWOT - A SWOT analysis of a company's strengths, weaknesses, opportunities, and threats gives information on the environment within which a company will operate

Question 84

Ch 7. Liquidity ratios measure a businesses ability to pay its liabilities - True or False

Answer 84

True, Liquidity ratios are a measure of a businesses ability to pay its liabilities

Question 85

Ch 7. Which class of financial statements is the most reliable?

Answer 85

Audited Statements - Audited statements are expensive to complete, but they are the most reliable

Question 86

Ch 7. How do you calculate the current ratio?

Answer 86

Current Assets/ Current Liabilities

Question 87

Ch 7. What are pro forma statements?

Answer 87

Financial statements prepared to emphasize either current or projected figures

Question 88

Ch 7. What do profitability ratios measure?

Answer 88

The overall effectiveness of a company's management

Question 89

Ch 7. What is a change to a company's financial statements that may indicate a potential problem?

Answer 89

Having a different auditor complete the financial statements

Question 90

Ch 7. what is an inevitable but serious issue when evaluating a risks financial information?

Answer 90

Lag between the preparation of the preparation of financial statements after the most recent fiscal year and the present

Question 91

Ch 7. What is the difference between revenues that are accounted for on the an accrual basis and those accounted for on a cash basis?

Answer 91

If revenues are accounted for on an accrual basis and not a cash basis, then the revenue is recorded when the item or service is shold, even though the cash may not have been received.

Question 92

Ch 7. What is the most important thing about a company's return on equity?

Answer 92

It should exceed the return that would available on an equivalent investment

Question 93

Ch 7. What is the purpose of the questions an underwriter asks regarding potential problems in financial statements?

Answer 93

To assist the underwriter in making a thorough assessment of the risk

Question 94

Ch 7. What is the purpose of the statement of cash flow?

Answer 94

It answers questions about how much money a business generated, where the money came from, and where it went

Question 95

Ch 7. What three financial statements are of particular interests to an underwriter

Answer 95

Balance sheet, income statement, statement of cash flow

Question 96

Ch 8. A captive is best suited to catastrophic and unexpected exposures - True or False

Answer 96

False - A captive is best suited to non-catastrophic somewhat predictable exposures

Question 97

Ch 8. What are the responsibilities of the insurer for losses below the SIR threshold?

Answer 97

None - the insurer has no responsibility for or involvement with a claim below the SIR threshold

Question 98

Ch 8. An SIR can be financially draining - True or False

Answer 98

True - A disadvantage of SIRs is that they can be financially draining. A company's risk management program must be properly designed to ensure that the company can manage the financial consequence's of an SIR

Question 99

Ch 8. What is a disadvantage of a reciprocal for subscribers?

Answer 99

Time commitment - Is one disadvantage of a reciprocal to subscribers because they might have to agree in advance to subscribe for a number of years

Question 100

Ch 8. What is alternative risk financing?

Answer 100

A self-insurance arrangement. Alternative risk financing is the name given to the set of methods by which an organization may retain its risk. It is a self-insurance arrangement that finances risk by means other than a transfer to a traditional insurer

Question 101

Ch 8. How can a reciprocal transfer part of the risk it has retained for its subscribers?

Answer 101

They can buy traditional commercial insurance from reinsurers or primary excess insurers

Question 102

Ch 8. How does a captive insurance company reduce frictional costs?

Answer 102

It removes or reduces the direct and indirect costs associated with market transactions

Question 103

Ch 8. How is a reciprocal different than a group captive?

Answer 103

A reciprocal can be licensed in any jurisdiction and can insure risks without a fronting insurer in any jurisdiction in which it is licensed.

Question 104

Ch 8. What are the responsibilities of an insurer that fronts for a captive?

Answer 104

Making claim payments and recovering those payments from the captive

Question 105

Ch 8. What is a captive insurance company?

Answer 105

An insurer that is owned and controlled by it's insured(s)

Question 106

Ch 8. What is a disadvantage of an SIR to an insurer?

Answer 106

If the development of losses causes them to exceed the SIR threshold the insurer inherits the consequences of the SIR client's management of them while they were still below the SIR threshold

Question 107

Ch 8. What is a reciprocal insurance exchange?

Answer 107

A group of similar organizations that share their risk. In a reciprocal insurance exchange (inter insurance exchange), a group of similar organizations share their risk; it is a means of risk financing in which a number of subscribing organizations together appoint a central underwriter as attorney-in-fact to share the costs of risk financing.

Question 108

Ch 8. What is the difference between a deductible and self-insured retention (SIR)?

Answer 108

A deductible is applied by an insurer after a claim is made, a SIR is applied by the insured before claiming against its policy

Question 109

Ch 8. What is trading dollars with an insurer a bad idea?

Answer 109

Because there is little uncertainty in a trading dollars situation, the company is handing over the dollars needed to cover its losses plus the insurer’s overhead

Question 110

Ch 8. Why might a company want to retin its own risk?

Answer 110

If it has many small claims, it is probably trading dollars with an insurer rather than transferring risk. The uncertainty that a company protects itself against by buying insurance may not exist for a company with a high frequency of smaller claims, which would be largely expected. There would be little or no risk to be transferred and the pure premium the insurer charges for the coverage is likely to be about the same as the amount of loss that will be incurred during the policy term.

Question 111

Ch 9. When covering international property, there may be natural exposures in other countries that are rarely if ever seen in Canada - True or False?

Answer 111

True - There may be natural exposures in other countries that are rarely, if ever seen in Canada The foreign land could be prone to hurricanes, monsoons, earthquakes, tsunamis, droughts, volcanic eruptions, or other natural disasters

Question 112

Ch 9. NAIC stands for the National Agent Insurance Commission - True or False?

Answer 112

False - The National Association of Insurance Commissioners (NAIC) in the United States is one of several useful websites for an underwriter of international risk

Question 113

Ch 9. What employee of a company with foreign exposure will an underwriter consult to gain information about that foreign exposure?

Answer 113

The risk manager - An underwriter looking for information about foreign exposure can consult a risk manager, who is responsible for buying insurance on behalf of the insured and for managing all aspects of the insured's exposure, both foreign and domestic

Question 114

Ch 9. While some likely exposures in foreign locations are due to natural phenomena, others are caused from?

Answer 114

Differing standards - Some exposures are caused by differing standards, in Europe for example sprinkler protection in buildings is less common than in North America. Standards differ around the world, and the underwriter must find out how they differ to correctly assess the exposure

Question 115

Ch 9. Admitted paper is insurance on locally approved forms accepted by the local authority - True or False?

Answer 115

False - Admitted paper is insurance written on locally approved policy forms issued by a locally licensed, registered or authorized insurer.

Question 116

Ch 9 . How does the brokers role change in some foreign jurisdictions?

Answer 116

In some foreign jurisdictions the broker plays a more controlling role in the account. Following a loss, it is not unusual to see the broker assign the adjuster and direct the handling of a claim, as well as negotiate on behalf of the insured.

Question 117

Ch 9. What circumstances may make it impossible for a Canadian insurer to cover a client's international exposure?

Answer 117

Some countries prohibit local entities from purchasing insurance from anyone except a locally established, authorized and licensed insurer

Question 118

Ch 9. What does NAIC stand for?

Answer 118

National Association of Insurance Commissioners

Question 119

Ch 9. What is a fronting arrangement?

Answer 119

An arrangement by which an insurer issues a policy with the intention of transferring most or all of the exposure to a reinsurer or other insurer not licensed in the jurisdiction of the fronting insurer

Question 120

Ch 9. What is a potentially damaging assumption an underwriter can make regarding a client's foreign exposure?

Answer 120

Underwriters cannot afford to infer to the extent or nature of a foreign exposure from a client's good reputation and record in North America

Question 121

Ch 9. What is a serious concern when covering international property?

Answer 121

There may be natural exposures in other countries that are rarely, if ever seen in Canada

Question 122

Ch 9. What is admitted paper?

Answer 122

Insurance written on locally approved policy forms issued by a locally licensed, registered or authorized insurer

Question 123

Ch 9. What is an issue for insurers when providing liability insurance for international exposures?

Answer 123

The cultures and judicial systems in other countries can make underwriting liability insurance across boarders difficult and highly uncertain

Question 124

What is difference-in-limits (DIL) insurance?

Answer 124

Coverage provided by a non-admitted international insurance policy for the difference between its limits and the lower limits provided by the foreign admitted policy

Question 125

Ch 9. Why might a reinsurer be an important source of information and advice regarding foreign exposure?

Answer 125

They often have underwriting office worldwide and can advise the underwriter on local rules and regulations that may influence the judgement of a foreign risk

Question 126

Ch 10. What is speculative risk?

Answer 126

Risk with a chance of either loss or gain

Question 127

Ch 10. How long is a typical treaty relationship between insurers?

Answer 127

More than 1 year. A treaty typically establishes a long-term relationship where profit is expected. Treaties are not usually effective for just one year.

Question 128

Ch 10. How is pricing determined in proportional reinsurance?

Answer 128

Total premium determined by the insurer, and the reinsurer received a percentage of it

Question 129

Ch 10. What is pure risk?

Answer 129

A risk with no chance of gain, only loss

Question 130

Ch 10. What is the simplest form of proportional treaty reinsurance?

Answer 130

A quota share treaty

Question 131

Ch 10. Casualty coverage is usually

Answer 131

Non-proportional

Question 132

Ch 10. What are three types of reinsurers?

Answer 132

Direct writers, broker-market reinsurers, and reinsurance departments are types of reinsurers

Question 133

Ch 10. How many reinsurers can an insurer have?

Answer 133

Many

Question 134

Ch 10. What documents facultative reinsurance on a risk?

Answer 134

A facultative certificate

Question 135

Ch 10. What is the fundamental characteristic of all parties to a reinsurance contract?

Answer 135

They are all professional insurance companies

Question 136

Ch 10. What aspect of a reinsurers business would leakage affect directly?

Answer 136

Profitability