Webce Life Health Florida Exam | 100% Correct | Verified | 2024 Version

Rory's parents offered to buy him a new car to take to college, but Rory turned them down because he was afraid the car would be stolen or damaged if he parked it on campus. In deciding not to own a car, what risk management technique did Rory employ? - risk avoidance Which of the following is most likely to be an insurable risk? - The chance that a fire will destroy a building Theodore pays an annual premium to the insurance company that covers many of the risks associated with Theodore's business. What risk management technique is Theodore using? - risk transfer The possibility that a fire will damage Fay's store building is a pure risk. Why? - It involves only the chance of a loss. Esther, an underwriter for QRS Insurance Company, is not able to provide the coverage requested in Benny's insurance application. Esther can reject the application, or she can - Make a counteroffer When applying for a businessowners insurance policy, Brandy did not mention that hazardous and illegal activity that goes on in the backroom of her shop because she realized no insurer that knew about it would insure her business. What is Brandy's failure to disclose this activity considered? - Concealment