Which of the Following Statements Is True About Joint Underwriting

question 36

Multiple Choice

Which of the following statements is true about joint underwriting associations (JUAs) ?

• A)They provide medical malpractice insurance coverage to those who cannot obtain insurance in the regular markets.
• B)They are created by federal legislation.
• C)They provide licenses to insurers who have been denied licenses by the state.
• D)They provide coverage to individuals whose insurers are no longer active.
• E)They are formed by the owners of the biggest firms in the industry as per federal legislation.

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Definitions:

Perfect Complements

Goods that are consumed together in fixed proportions because the consumption of one good enhances the value of the other.

Operating Systems

Software that manages computer hardware and software resources and provides common services for computer programs.

New Edition

A revised or updated version of a published work, such as a book or software, often including new material or corrections.

Buy Back

Buy back refers to the process by which a company repurchases its own shares from the marketplace, reducing the number of outstanding shares.