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Which Statement Is (Are)true Regarding Property and Liability Insurance Market

question 9

Multiple Choice

Which statement is (are) true regarding property and liability insurance market conditions?
I.Premiums are high when the insurance market is "hard."
II.Underwriting standards are tight when the insurance market is "soft.


Definitions:

Sensory Interaction

The principle that one sense may influence another, as when the smell of food influences its taste.

Vestibular Sense

Our sense of balance— our sense of body movement and position that enables our sense of balance.

Kinesthesia

The sense that detects body position, weight, or movement of the muscles, tendons, and joints.

Embodied Cognition

The influence of bodily sensations, gestures, and other states on cognitive preferences and judgments.

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