Which one of the following is true regarding the operation of property per risk excess of loss treaties? Available answer options Select only one option A Excess of loss treaties contain the same exclusions as those that appear in the underlying insurance policies. B With property per risk excess of loss treaties, the reinsurance premium is usually a small percentage of the underlying written premiums. C Property per risk excess of loss reinsurance usually applies on the same terms and conditions as specified in the underlying insurance policies. D A property per risk excess of loss treaty is more difficult and time consuming to administer because of multiple attachment points for loss exposures