High Premiums and Tight Underwriting Standards Are Called a Soft

question 7

True/False

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

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Definitions:

Economic Base

The primary industries supporting and driving the economy of a specific area, often determining its growth and stability.

Cultural Attributes

Characteristics or features that define and distinguish one culture from another, including language, customs, beliefs, and practices.

Geographical Location

A specific position or point on the Earth's surface defined by coordinates or descriptive measures.