3. Bilbo has just purchased an insurance policy (and thereby joined a risk-pool). Bilbo paid an ex ante premium and did not give the insurer ex post assessment rights. These means a. b. Bilbo does not have the right to collect losses greater than his ex ante premium The insurer does not have the right to deny claims that are less than the agreed upon ex post amount. Bilbo is not required to assess the insurer. The insurer cannot request further premium from Bilbo should the risk-pool experience a bad loss. c. d. 3. Bilbo has just purchased an insurance policy (and thereby joined a risk-pool). Bilbo paid an ex ante premium and did not give the insurer ex post assessment rights. These means a. b. Bilbo does not have the right to collect losses greater than his ex ante premium The insurer does not have the right to deny claims that are less than the agreed upon ex post amount. Bilbo is not required to assess the insurer. The insurer cannot request further premium from Bilbo should the risk-pool experience a bad loss. c. d