Which of the following is NOT typically a concern of bond underwriters?

Bond underwriters focus on several critical factors to assess the risk associated with issuing a bond. Among these, financial statements provide insight into an applicant's overall financial health, enabling underwriters to gauge the issuer's capacity to meet bond obligations. The applicant's liquid assets are also crucial, as they indicate available resources that can be accessed quickly to ensure payment if necessary. Historical claims data presents a track record of previous bond performance and helps underwriters assess the likelihood of future claims.

On the other hand, personal relationships, while they can be beneficial in some contexts, typically do not play a significant role in the underwriting process for bonds. Underwriters primarily rely on quantitative data and objective financial metrics to make informed decisions, rather than subjective personal connections or relationships. This focus on concrete financial information ensures that the assessment is based on clear and measurable criteria, thereby reducing the risk associated with the bond issuance.