Asked by Shatha Zaghloul on Apr 28, 2024
Verified
In insurance law, the______ is the one assuming a risk in return for the payment of a premium.
A) underwriter
B) insured
C) agent
D) broker
Underwriter
In insurance law, the insurer, or the one assuming a risk in return for the payment of a premium.
Premium
The amount paid for an insurance policy, reflecting the cost of coverage.
- Absorb information on the initial components and parties implicated in insurance agreements.
Verified Answer
VV
Victoria ValadezMay 02, 2024
Final Answer :
A
Explanation :
The underwriter is the party in insurance law that assumes the risk in return for the payment of a premium. They assess the risk associated with an insurance policy and decide whether to accept it.
Learning Objectives
- Absorb information on the initial components and parties implicated in insurance agreements.
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