An important difference between surety bonds and insurance policies is that

a)insurance involves only two parties while bonds involve three parties

b)insurance protects against specifi named perils, while bonds protect only against open perils

c)insurance policies specify a limit on the losses that will be covered, while bonds do not.

d)an insurer may take legal action to recover losses from a person who caused the loss, but a surety has not legal recourse against a principal