NO.PZ202304050100011701
问题如下：
(1) If Takahashi’s interpretation of the current phase of the property and casualty market is correct, a cyclical shift is most likely to result in:
选项：
A.a tightening of underwriting standards.
capital adequacy being easier to achieve.
additional competitors entering the market.
解释：
C is correct. In hard insurance markets, insurance premiums and industry profits are high as are underwriting standards. This attracts competitors that offer lower premiums resulting in lower profitability, a softening of the market, and a weakening of underwriting standards.
A is incorrect. In hard insurance markets, premiums and profitability are high and insurers can set high underwriting standards. As competitors are attracted to this profitability and the market softens, underwriting standards and premiums drop as everyone offers the cheapest deals.
B is incorrect. Hard markets feature higher premium prices, increased profitability, and an increased ability for insurers to maintain adequate capital. Capital typically depletes as markets soften, making capital adequacy more difficult to achieve.
本题是说哪些可以看做转换的标志
我理解选项A指的是更严格的标准，在软市场下，标准更松，现在标准严，证明处于硬市场；
B指的是资本充足率容易达到，在软市场下，资本充足率较难达到，所以证明处于硬市场；
C指的是竞争者进入市场，在软市场下，竞争者会退出市场，所以证明处于硬市场。
也就是说3个选项都是硬市场的现象，那为什么竞争者进入市场可以看做转换的标志？
除此之外还有哪些可以看做转换的标志？
