The Two Policy Categories Offered by Property-Casualty Insurers That Are

question 96

Multiple Choice

The two policy categories offered by property-casualty insurers that are most likely to be subject to rate regulation are

• A)auto insurance and worker's compensation.
• B)homeowner multiple peril and commercial multiple peril.
• C)earthquake and flood.
• D)surety bonds and financial guaranty.
• E)product liability and farm owner multiple peril.

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Definitions:

Growth

An increase in the economic output and prosperity of a region, often measured by GDP or per capita income over time.

Government Officials

Individuals appointed or elected to positions of authority in government institutions, responsible for making and enforcing rules and laws.

Free Market

A system where the prices for goods and services are determined by the open market and by consumers, with minimal government intervention and regulation.

Oil-Rich Countries

Nations with significant proven reserves of petroleum, often deriving a major part of their revenue from oil exports.