Which of the Following Statements Concerning the Selection of Risk

question 48

Multiple Choice

Which of the following statements concerning the selection of risk management techniques and insurance market conditions is true?
I.It's easier to purchase affordable insurance during a "soft " market than during a "hard" market.
II.Retention is used more during a "soft" market than during a "hard" market.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Cause in Fact

A legal principle that establishes an event as the direct cause of an injury, required for proving negligence.

Res Ipsa Loquitur

A doctrine in tort law that infers negligence from the very nature of an accident or injury, in the absence of direct evidence on how any defendant behaved.

Causation

The relationship between cause and effect, where one event (the cause) directly leads to the occurrence of another event (the effect).

Duty of Care

A legal obligation imposed on individuals or organizations to adhere to a standard of reasonable care while performing acts that could foreseeably harm others.