Which of the following statement is correct?

a. Policyholders of mutual insurance companies are the residual claimants, have usually limited liability and therefore they cannot be assessed, and the mutuals cannot raise capital by issuing equity.

b. The policyholders of mutual insurer have unlimited liability and they can be assessed if the mutual insurer lose money.

c. All the answers are incorrect.

d. Reinsurance for insurers increases the risk of insolvency.

e. When an insurer buys reinsurance, it will receiving premiums from the reinsurer and thus increasing its profit.