A gathering of investors (individuals or corporations) who wish to make a profit

Question

A gathering of investors (individuals or corporations) who wish to make a profit from providing insurance which they back with their own assets is an example of:

1) An insurance pool

2) A governmental insurance plan

3) An insurance exchange

4) A Lloyds marketplace

In many states, surplus lines brokers can place coverage for difficult-to-insure customers only after:

1) Their loss experience has been below a stated threshold fo4r six months or more 2) They have been nonrenewed by their current carrier 3) They obtain a security bond for 10% of their requested limits of liability 4) They have been rejected by a given number of insurers

Explanation / Answer

Answer 1

4) A Lloyds marketplace

Answer 2

4) They have been rejected by a given number of insurers

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