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Question : Please - I only have one hour to answer these

Please - I only have one hour to answer these questions - can you assist? Thanks

32. Most insurance policies prohibit direct access from the original insured to the reinsurer. The prohibition exists because:

insurance companies realized that the original insured can take insurance directly from the reinsurance company and put them out of business.

direct assess of the original insured to the reinsurer is illegal.

reinsurance companies do not want to deal directly with original insureds.

the insurance company does not want the original insured to know that it is reinsuring the risks.

the reinsurance agreement is a separate contract from the primary insurance contract.

33. Identify the characteristics of a hard market.

Insurance rates and insurance capacity are high

Insurance rates are high and insurance capacity is low

Insurance rates are low and insurance capacity is high

Insurance rates and insurance capacity are low

Insurance rates are negligible and insurance capacity is very high

34. Soft market conditions occur when:

insurance losses and insurance prices are high.

insurance losses are high and prices are very competitive.

insurance losses are low and prices are very competitive.

insurance gains are low and prices are very competitive.

insurance gains and insurance prices are very low.

35. Each line of business has its own break-even point because:

the firm uses different strategies for each line to mitigate risks.

each line in an industry has a different loss payment time horizon but similar length of time for the investment of the premiums.

each line in an industry has varying length of time for the investment of premiums but similar loss payment time horizon.

all lines in an industry have similar loss payment time horizon and length of time for the investment of the premiums.

each line has a different loss payment time horizon and length of time for the investment of the premiums.

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