Which of the following statements is (are) true with respect to the di

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

ANSWER

Answer: C