Part 1 (200 words)
- What is the meaning of the term reinsurance?
- Explain the reasons for reinsurance.
- Explain the term securitization of risk.
What unfair trade practices are each of the following insurance agents violating? Explain the terms that you use. 300 words
- Agent Jones offers a client to pay a portion of the premium if the client purchases a policy.
- Agent Peterson convinces a client to replace a life insurance policy with a new policy that adds little value.