High premiums and tight underwriting standards are called a soft insurance market.

Name: High premiums and tight underwriting standards are called a soft insurance market.
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In a soft insurance market, premiums are typically lower, and underwriting standards are more lenient, making it easier for individuals and businesses to obtain coverage. This is the opposite of a hard insurance market, where premiums are high and underwriting standards are tight.

High Premiums and Tight Underwriting Standards Are Called a Soft