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27 of 90 The Facility Association was established by the insurance industry to insure automobile risks which do not find ready acceptance on the open market. Which one (1) of the following statements describes it best? It is a pooling arrangement subscribed to by all automobile insurers qualified for "residual market segment" of the Plan of Operation, who share the experience on risks written and serviced by a few insurers, called servicing carriers. It is comprised of insurers, known as servicing carriers, which write the risks placed. by insurance agents and brokers for their own account. It is made up of insurers, known as servicing carriers, which pool risks amongst themselves on behalf of the Provincial Government. It is a pool of insurers that charge higher premiums than for standard risks as a means of averaging their automobile underwriting losses.

27 of 90 The Facility Association was established by the insurance industry to insure automobile risks which do not find ready acceptance on the open market. Which one (1) of the following statements describes it best? It is a pooling arrangement subscribed to by all automobile insurers qualified for "residual market segment" of the Plan of Operation, who share the experience on risks written and serviced by a few insurers, called servicing carriers. It is comprised of insurers, known as servicing carriers, which write the risks placed. by insurance agents and brokers for their own account. It is made up of insurers, known as servicing carriers, which pool risks amongst themselves on behalf of the Provincial Government. It is a pool of insurers that charge higher premiums than for standard risks as a means of averaging their automobile underwriting losses.

Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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27 of 90 The Facility Association was established by the insurance industry to insure automobile risks which do not find ready acceptance on the open market. Which one (1) of the following statements describes it best? It is a pooling arrangement subscribed to by all automobile insurers qualified for "residual market segment" of the Plan of Operation, who share the experience on risks written and serviced by a few insurers, called servicing carriers. It is comprised of insurers, known as servicing carriers, which write the risks placed. by insurance agents and brokers for their own account. It is made up of insurers, known as servicing carriers, which pool risks amongst themselves on behalf of the Provincial Government. It is a pool of insurers that charge higher premiums than for standard risks as a means of averaging their automobile underwriting losses.
Transcribed Image Text:27 of 90 The Facility Association was established by the insurance industry to insure automobile risks which do not find ready acceptance on the open market. Which one (1) of the following statements describes it best? It is a pooling arrangement subscribed to by all automobile insurers qualified for "residual market segment" of the Plan of Operation, who share the experience on risks written and serviced by a few insurers, called servicing carriers. It is comprised of insurers, known as servicing carriers, which write the risks placed. by insurance agents and brokers for their own account. It is made up of insurers, known as servicing carriers, which pool risks amongst themselves on behalf of the Provincial Government. It is a pool of insurers that charge higher premiums than for standard risks as a means of averaging their automobile underwriting losses.
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