All of the following statements about the claims handling function are true except:
A) overly liberal claims settlement procedures may be as bad as stingy claims settlement procedures
B) claims settlement problems are generally more complex in property and liability insurance than in life insurance
C) independent adjusters only work for small insurance companies
D) negotiation with the claims adjuster is often the only contact the insurance buyer has with the insurer, besides the selling agent
C
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Ping was the president and chairman of the board of directors of Oh Imports, Inc Ping was also a major shareholder. Acting as president, Ping negotiated a series of contracts that caused the corporation serious economic losses. In this role, Ping failed
to exercise the care of a reasonably prudent person acting in similar circumstances. When substantial economic losses began to pile up, Ping insisted that the corporation breach a contract with Ory in favor of a larger contract that was later entered into with Magnificent Enterprises. Ping hoped to reverse Oh's economic fortunes through this contract with Magnificent, but the attempt failed. Oh then became insolvent. Ultimately, the corporation failed. Two law-suits were initiated against Ping. In the first, a creditor of Oh who never was paid because the business failed sued Ping alleging that the negligence of Ping had caused Oh to fail to pay the creditor what was owed. The second lawsuit instituted by Ory claimed damages from Ping because Ping caused Oh to breach its contract with Ory. Decide both lawsuits.
What role do market averages and indexes play in the investment process?