Podcast
Questions and Answers
What three principal groups make up the insurance market?
What three principal groups make up the insurance market?
- Buyers, Intermediaries, Sellers (correct)
- Investors, Actuaries, Regulators
- Consumers, Agents, Underwriters
- Policyholders, Brokers, Insurance Companies
Which group is NOT considered a principal part of the insurance market structure?
Which group is NOT considered a principal part of the insurance market structure?
- Reinsurers
- Sellers
- Clients (correct)
- Intermediaries
Who among the following is included in the intermediaries of the insurance market?
Who among the following is included in the intermediaries of the insurance market?
- Underwriters
- Reinsurers
- Insurers
- Brokers (correct)
How can the interactions between buyers, intermediaries, and sellers in the insurance market best be described?
How can the interactions between buyers, intermediaries, and sellers in the insurance market best be described?
What roles do sellers play in the insurance market?
What roles do sellers play in the insurance market?
Flashcards
Market Structure
Market Structure
The organization of a market based on buyer and seller interactions.
Insurance Market Groups
Insurance Market Groups
The three main participants in the insurance market: buyers, intermediaries, sellers.
Buyers in Insurance
Buyers in Insurance
Individuals or entities looking to purchase insurance products.
Intermediaries
Intermediaries
Signup and view all the flashcards
Sellers in Insurance
Sellers in Insurance
Signup and view all the flashcards
Study Notes
Insurance Market Structure
- The insurance market involves three key groups: buyers, intermediaries (like brokers), and sellers (insurers and reinsurers).
- The interaction between these groups is depicted in a diagram (Figure 2.1).
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
