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JamesLu JamesLu
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7 years ago
Which of the following statements is (are) true with respect to the differences between insurance and surety bonds?
I.   Insurance is a two-party contract; surety involves three parties.
II.   Insurers usually do not have the right to recover a loss payment from an insured, while a surety does have the legal right to recoup a loss payment.
A) I only
B) II only
C) both I and II
D) neither I nor II
Textbook 
Principles of Risk Management and Insurance

Principles of Risk Management and Insurance


Edition: 12th
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Toni_AnnetteToni_Annette
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7 years ago
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