Which of the Following Statements About Lloyds of London (Are)true

question 22

Multiple Choice

Which of the following statements about Lloyds of London (are) true?
I.The majority of the business underwritten by Lloyds of London is for unusual risks,such as valuable race horses and professional athletes.
II.Lloyds of London is a group of underwriters who underwrite insurance,not an insurance company.

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

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Definitions:

Administers

The act of managing, directing, or overseeing individuals or processes.

Tariff

A tax imposed on imported goods and services to control trade volumes, protect domestic industries, or generate revenue.

Efficiency

The optimal allocation and utilization of resources to maximize productivity and minimize waste in the production of goods and services.

Domestic Industry

The industries that produce goods and services within a country's own borders.