PBP Practice Questions - PBP Program Business Professional Exam

What best describes a 'program business' arrangement in property-casualty insurance?

A standard admitted carrier writing one-off accounts through retail agents A book of similar risks in a defined niche, underwritten and serviced by a program administrator on behalf of one or more carriers A reinsurance treaty between two carriers covering catastrophic losses A captive insurance company owned by a single Fortune 500 parent

Correct Answer:

A book of similar risks in a defined niche, underwritten and serviced by a program administrator on behalf of one or more carriers

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