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Select the correct statement from the following: (1) Premium is the fixed amount of sum paid ova the period by the insured to the insurance company to take insurance policy and to complete the contract of insurance. (2) Underwriting is the consideration of material fact to asses the risk and to take the decision whether to accept the risk for insurance contract and if so at what rate of premium. (3) Reinsurance is an arrangement by which insurance companies spread their risk with other underwriters or reinsurance companies called Reinsurance. (4) Deductible is the amount, which the insured has to bear in all cases and this amount is first, deducted from the total assessed payable claims amount before determining insurance company's liability.

A) 1, 2 & 3

B) 1, 2 & 4

C) 1, 3 & 4

D) 2, 3 & 4

E) All are correct