Question

What is a hard market in the context of reinsurance?

a.

A market with low demand and oversupply

b.

A market characterized by excessive underwriting and pricing

c.

A market with a scarcity of products and prudent underwriting

d.

A market with readily available products and deficient pricing

Posted under IC85 Reinsurance Management

Answer: (c).A market with a scarcity of products and prudent underwriting Explanation:A hard market in reinsurance is characterized by a scarcity of products or services for purchase. It is associated with prudent underwriting and adequate pricing.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What is a hard market in the context of reinsurance?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What does the term "hours clause" refer to in reinsurance?

View solution

Q. What is meant by "Incurred But Not Reported (IBNR)" in reinsurance?

View solution

Q. What does the insolvency clause in reinsurance contracts ensure?

View solution

Q. What does an intermediary clause in a reinsurance contract specify?

View solution

Q. What is the purpose of a jurisdiction clause in a reinsurance treaty wording?

View solution

Q. What does the "Law of Large Numbers" postulate in insurance?

View solution

Q. What is a "layer" in the context of excess of loss reinsurance?

View solution

Q. Who is a "Lead Underwriter" in reinsurance?

View solution

Q. What does the term "Limits" refer to in reinsurance?

View solution

Q. How is the term "Line" used in the context of reinsurance?

View solution

Q. What is meant by "Long-Tail Liability" in insurance and reinsurance?

View solution

Q. What are "Losses Outstanding" in reinsurance?

View solution

Q. What does the "Losses occurring basis" refer to in excess of loss insurance?

View solution

Q. What do "Losses Paid" refer to in insurance?

View solution

Q. How is the "Loss Ratio" calculated in insurance?

View solution

Q. What is the purpose of a "Loss Ratio Stabilising Clause"?

View solution

Q. What does the "Net Line" represent in insurance?

View solution

Q. What is an "Obligatory Treaty" in reinsurance?

View solution

Q. How is "occurrence" defined in insurance?

View solution

Q. What does "offset" mean in the context of agreements or transactions?

View solution
View All MCQs on IC85 Reinsurance Management

Recommended Subjects

Are you eager to expand your knowledge beyond IC85 Reinsurance Management? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

Biochemical Engineering

Master the synergy of biology and engineering with our Biochemical Engineering...

Power Plant Engineering

Embark on a journey through the fascinating domain of Power Plant Engineering, where...

Waste Water Engineering

Navigate the challenges of wastewater treatment and management with our Waste Water...

Human Anatomy and Physiology

Embark on a journey through the human body with our Human Anatomy and Physiology...

Verbal Ability

Hone your language and communication skills with our Verbal Ability category. Enhance...

IC38 Life Insurance Agent Exam

Prepare for success in the Insurance Institute of India (III) IC38 IRDA examination...

Food Engineering

Explore the fascinating world of Food Engineering with our specialized category....

Textile Engineering

Explore the dynamic world of Textile Engineering with our specialized category. Delve...

Human Resource Management

Explore the dynamic field of Human Resource Management (HRM) with our dedicated...