An insurer may reject a risk for any number of reasons. Which one (1) of the following is NOT usually a reason for rejection? The risk may be so much more hazardous than the average that it has the potential for almost certain loss. The broker submitting the risk does not have an office in the municipality where the risk is situated. The insurer may not insure that class of business. The risk, though sub-standard, could be improved and made acceptable but the applicant refuses to do so.
An insurer may reject a risk for any number of reasons. Which one (1) of the following is NOT usually a reason for rejection? The risk may be so much more hazardous than the average that it has the potential for almost certain loss. The broker submitting the risk does not have an office in the municipality where the risk is situated. The insurer may not insure that class of business. The risk, though sub-standard, could be improved and made acceptable but the applicant refuses to do so.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
Pls help ASAP

Transcribed Image Text:An insurer may reject a risk for any number of reasons. Which
one (1) of the following is NOT usually a reason for rejection?
The risk may be so much more hazardous than the average that it has the potential
for almost certain loss.
The broker submitting the risk does not have an office in the municipality where the
risk is situated.
The insurer may not insure that class of business.
The risk, though sub-standard, could be improved and made acceptable but the
applicant refuses to do so.
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps

Recommended textbooks for you

Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education

Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning

Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education

Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning

Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON

Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON

Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON