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) 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. A significant issuance of the issuer`s shares could dramatically reduce demand and thus the price of the securities to be offered in the transaction, or lead investors to be more skeptical, thereby increasing the potential risk of investing in the songwriter`s offering securities. Sub-writers will attempt to secure lock-in agreements for all holders of existing titles or essentially all holders of existing titles for a period of 180 days. The issuer should endeavour to put in place carve-outs that prevent blocking from taking place in existing agreements. These include carve-outs for already planned issues or transfers of securities, ordinary lending or capital market activities, as well as issues for staff under existing agreements or to attract or retain key talent. As part of a Firm Commitment Underwriting, the underwriter guarantees the acquisition of all securities offered for sale by the issuer, that it can sell them to investors. .