Exam (elaborations)
Property and Casualty insurance 65 exam Questions And Answers
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Insurance - ️️The transfer of risk through a legal contract Property - ️️Covers real property and personal property against damage or loss resulting from covered causes of loss called perils casualty - ️️covers non-property losses (3rd Party) Personal lines - ️️Insurance for families and individuals Commercial Lines - ️️Insurance for Business Risk - ️️Uncertainty of financial loss Pure Risk - ️️Chance of loss only (insurance only covers) Speculative Risk - ️️Chance of loss or gain law of large numbers - ️️as the number of homogenous loss exposures increases, the more accurate claims can be predicted from the group Perils - ️️causes a loss Named Peril - ️️lists the perils that are covered
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Institution
Property And Casualty Insurance
Module
Property and Casualty Insurance
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- Institution
- Property and Casualty Insurance
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property and casualty insurance exam
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