Which of the following statements concerning the selection of risk management techniques and insurance market conditions is true?
I.It's easier to purchase affordable insurance during a "soft " market than during a "hard" market.
II.Retention is used more during a "soft" market than during a "hard" market.
A)I only
B)II only
C)both I and II
D)neither I nor II

Question

Quizplus · Accepted Answer

During a "soft" market, insurance is more affordable and readily available, making it easier to purchase. Retention is typically used more during a "hard" market when insurance is less affordable and harder to obtain.

Which of the Following Statements Concerning the Selection of Risk