Alabama Property and Casualty Insurance Exam Prep Accurate 100%
Insurance - ANSWER The transfer of risk through a legal contract Property - ANSWER Covers real property and personal property against damage or loss resulting from covered causes of loss called perils. Casualty - ANSWER Covers non-property loss (by a 3rd party) Personal Lines - ANSWER Insurance coverages intended to protect individuals and their families. Commercial Lines - ANSWER Property and casualty coverages for business firms, nonprofit organizations, and government agencies Risk - ANSWER Uncertainty of financial loss
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