Members of Mid-South Petroleum Distributors, a trade group,…

Members of Mid-South Petroleum Distributors, a trade group, had trouble obtaining affordable pollution liability insurance. The members formed a group captive that is exempt from many state laws that apply to other insurers. This group captive is called a(n)

Which of the following statements regarding insurance and he…

Which of the following statements regarding insurance and hedging is (are) true?I.Insurance involves the transfer of an insurable risk while hedging handles risk that is typically uninsurable.II.Insurance transactions can reduce objective risk, while hedging typically involves only risk transfer and not risk reduction.