Identify the characteristics of a market.

Question

Quizplus · Accepted Answer

CIn a market where insurance rates are high and insurance capacity is low (B), it indicates a hard market, where insurers are more selective in underwriting policies due to higher risks or losses. Conversely, in a market where insurance rates are low and insurance capacity is high (C), it signifies a soft market, where insurance is more readily available and competitively priced due to lower perceived risks or abundant capacity.

Identify the Characteristics of a Market