for Risk Management And Insurance James TrieschmannSandra GustavsonSandra Gustavson Robert HoytSandra Gustavson Robert Hoyt David Sommer Verified Ques
Risk Management and Insurance [[KEEP_1]] Study Guide Questions | Accurate and Verified Insurance Claim - answer - The amount an insurance policyholder receives from the insurance company to reimburse the policyholder for a covered loss. Insurance - answer - protection against possible financial loss Insurance Policy - answer - An insurance policy is a legally binding contract between an insurance company and the person who buys the policy. insurance premium - answer - The amount you pay for an insurance policy Risk - answer - The possibility of incurring a loss Life Insurance - answer - insurance paid to named beneficiaries when the insured person dies Term Insurance - answer - Life insurance coverage for a specified period of time, less expensive than whole Health Insurance - answer - Insurance that covers medical illness or injury. Long Term Disability - answer - disability insurance designed to replace lost income for a period of five years or greater Short Term Disability - answer - - 13 or 26 weeks - Paid weekly and range from 50% to 100% of your salary Homeowners Insurance - answer - Protects against most types of property losses and liabilities related to home ownership Renters Insurance - answer - Covers your personal property in a rented apartment or home. Automobile Insurance - answer - Insurance providing liability and other coverages for the operation of a motor vehicle. Controllable Risk - answer - a risk that you can reduce or eliminate by actions you take Uncontrollable Risk - answer - a risk that cannot be reduced or eliminated by actions you take
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