The Costs of Catastrophic Events Continue to Increase Primarily Because

question 4

Multiple Choice

The costs of catastrophic events continue to increase primarily because:

• A) more people are moving into more hazardous areas.
• B) not enough people pay for insurance in hazardous areas to even out the costs.
• C) insurance companies are not making enough profit to satisfy their shareholders.
• D) insurance companies are refusing to insure most natural hazard losses.
• E) natural hazards are becoming more difficult to understand.

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Definitions:

Power of Attorney

A legal document authorizing one person to act on another's behalf in legal matters or decisions.

Seal

Historically, a device or substance used to stamp or mark documents, implying authenticity and intention to be legally bound.

13th Century

A period extending from the year 1201 to 1300, marking significant historical, cultural, and technological advancements.

Deed of Land

A legal document that represents the ownership of property and transfers the title from one party to another.