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Insurers may refuse the risk or make an offer in which premiums have been encumbered (including the amount necessary to cover the costs necessary to make a profit[5]) or which set out various exclusions that restrict the circumstances in which a claim would be paid. Depending on the type of insurance product (activity), insurance companies use automated underwriting systems to code these rules and reduce the manual burden in processing offers and issuing policies. This is particularly the case for some simpler life or private insurance (car, owners). However, some insurance companies rely on agents to insure for them. This agreement allows an insurer to operate in a market closer to its customers, without having to establish a physical presence. Sub-writers and issuers can manage public offerings in different ways. Unlike a Best Efforts agreement, a buyback, also known as a firm commitment, requires the underwriter to acquire the entire stock offering. The songwriter`s profit is based on the number of shares or bonds sold and the range between his reduced purchase price and the price at which he sold the shares.. . . .