Question

In a "hard market," what typically happens to insurance premiums and coverage?

Q: Answer-In a 'hard market,' what typically happens to insurance premiums and coverage?

The correct answer is B. Premiums increase and coverage is restricted. In a hard market, insurers become more selective in the risks they underwrite, often reducing coverage and increasing premiums to maintain profitability.

A Premiums decrease and coverage is expanded.

B Premiums increase and coverage is restricted

C Premiums remain stable and coverage is expanded

D Premiums remain stable and coverage is restricted

E None of the above

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In a "hard market," what typically happens to insurance premiums and coverage?

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