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Surplus is the difference between an insurers assets and its liabilities True False 2. The combined ratio is lower during the hard market part of
Surplus is the difference between an insurers assets and its liabilities
True
False
2. The combined ratio is lower during the hard market part of the underwriting cycle that it is during softer parts of the cycle.
True
False
3. When the insurance industry is characterized by a strong surplus position then insurers must raise premiums to be able to pay for claim losses.
True
False
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