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Property and Casualty Insurance EXAM Questions and Answers 100% Pass
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Specific insurance This type of insurance designates a particular item to be insured Blanket insurance This type of insurance covers more than one item of property at a single location or one more items of property at multiple locations. Speculative possibility of both gain and loss. Not insurable. Pure only the possibility of loss. Insurable. What are the 5 methods of managing or handling risk? avoid, control, retain, and transfer risk. Hazard A condition or situation which increases the chance for loss Physical Hazards a hazard that arises from the condition, occupancy, or use of the property itself. ex: skateboard left on the steps
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