⚡ Month End Offer is live - Get Flat 55% Off on All Courses • Grab it Now! Click Here 00:00:00 AM

    Question

    During hard market conditions, insurers tend to raise

    premiums and restrict coverage due to past underwriting losses. What phase does this describe in the underwriting cycle?
    A Growth Phase Correct Answer Incorrect Answer
    B Hard Market Phase Correct Answer Incorrect Answer
    C Recovery Phase Correct Answer Incorrect Answer
    D Soft Market Phase Correct Answer Incorrect Answer
    E Pricing Equilibrium Correct Answer Incorrect Answer

    Solution

    Hard market is characterized by higher rates and strict underwriting.

    Practice Next
    ask-question