REVIEW QUESTIONS 1. Describe the basic characteristics of stock insurers. 2. a. Describe the basic features of mutual insurers. b. Identify the major types of mutual insurers. 3. The corporate structure of mutual insurers has changed over time. Briefly describe several trends that have had an impact on the corporate structure of mutual insurers. 4. Explain the basic characteristics of Lloyd's of London. 3. Describe the basic characteristics of a reciprocal exchange. 6. Explain the legal distinction between an agent and a broker. 7. Describe briefly the following distribution systems in the marketing of life insurance a. Personal selling systems b. Financial institution distribution systems c. Direct response system d. Other distribution systems 8. Describe briefly the following distribution systems in the marketing of property and casualty insurance. a. Independent agency system b. Exclusive agency system c. Direct writer d. Direct response system c. Multiple distribution systems ins bec siti