Question: Which statement is ( are ) true regarding property and liability insurance market conditions? I.Premiums are high when the insurance market is hard. II .

Which statement is (are) true regarding property and liability insurance market conditions?
I.Premiums are high when the insurance market is "hard."
II.Underwriting standards are tight when the insurance market is "soft.
I only
II only
neither I nor II
both I and II

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