Name a peril that is often excluded from an home or auto insurance policy.  Why is the peril included in an insurance policy

Q: For automobile insurance, Describe how risk can be managed. Evaluate the risks in society.…

A: Automobile insurance is a type of insurance that provides financial protection for damages or…

Q: When a life insurance policy lapses, it: a. benefits the insured b. benefits neither the insurer nor…

A: When insured person fails to pay the premium on insurance than it is said that policy has lapsed and…

Q: n the context of home insurance coverage, it is correct to say that: * If damage from a fire or…

A: Home insurance can be defined as that insurance which enables an insurer to get the loss covered in…

Q: Why do insurance companies offer discounts on new houses opposed to old ones?

A: Insurance companies offer discounts on new houses opposed to old one because:

Q: What are your recommendations for Insurance companies ?

A: 1.lapsation benifit to all 2. Reasonable refundable value 3. Single expense ratio

Q: Bodily injury and property damage liability policies protect an insured for Loses for which the…

A: Bodily injury and property damage liability policies protects the insured when insured is at fault…

Q: What does COBRA status allow you to do? O apply for health insurance as an individual O add more…

A: COBRA stands for Consolidated Omnibus Budget Reconciliation Act.  is a health insurance program that…

Q: How much life insurance does an individual need?

A: Meaning of life insurance:life insurance is nothing but a contract between insurance company and…

Q: Type of long-term care policies Triggers to become eligible for benefits Exclusions

A: Point to be Noted:- Since you have asked questions with multiple sub parts. I will be answering…

Q: will suggest to someone, which is better to have a life insurance or non life ins

A: Insurance is very necessary to prevent the uncertainty and risk.

Q: Homeowners policies have limits for items such as rare coins and jewelry. Which of the following…

A: If an individual owns some expensive items like antique articles, jewelry, fine arts, etc. then such…

Q: What are some of the possible consequences should a home owner allow the policy to lapse?

A: If the policyholder of the property insurance fails to make multiple payments, then the homeowners…

Q: When planning life insurance coverage, you should differentiate between ongoing expenses and…

A: The question is based on the concept used in planning life insurance coverage, Life insurance policy…

Q: a. Identify and explain the basic perils insured under a Standard Fire Policy. Name any three extra…

A: a. Standard fire insurance policy is the policy that is taken by the insured to cover the losses…

Q: Why would an insured inflate claims and who are the ones to suffer for it?

A: Insurance can be defined as the contract that is signed by an insurer indemnifies another person…

Q: insurance is relevant to the public an

A: Insurance is an agreement between two parties in which the insurer should pay money against which…

Q: Which area is not protected by most homeowners insurance? The home Your view Loss of use Personal…

A: Home insurance is a financial arrangement to cover the financial loss due to destruction and damage…

Q: The main purpose of buying insurance is to have financial protection in case of a loss. O eliminate…

A: The answer for main purpose of buying insurance is to have financial protection in case of loss.…

Q: What type of information is entered for insurance and why is insurance important?

A: Insurance is a way to protect oneself from financial loss. It is a type of risk management that is…

Q: Insuring clause in an Accident & Health policy states which of the following information? A. The…

A: There are different clause in the insurance policy that what is covered and what is not covered and…

Q: Name the coverage for auto insurance "Pays for damage or loss of your car if you are in accident." O…

A: The answer and explanation can be seen below:

Q: Discuss the potential for adverse selection when insureds exercise the renewability or…

A: In the insurance industry, adverse selection refers to situations in which an insurance company…

Q: Supplemental coverage for homeowner's insurance is available through endorsements. Which one…

A: Supplemental coverage for homeowner's insurance is available through endorsements. These are the…

Q: A Personal Liability Umbrella isn't required for most people, but certainly can be valuable. At what…

A: Insurance is a policy or in other words is a contract in which the insurance company promises to…

Q: Do risk influence people to go for insurance? What is the relationship between risk and insurance?

A: Yes, risk influences people to go for insurance. Several kinds of risks influence a person to get…

Q: To receive coverage for bodily injury resulting from an accident with a stolen vehicle, an…

A: Auto insurance also called motor insurance is the type of insurance that is used for insuring a…

Q: Why do you believe auto insurance companies provide premium relief?

A: Premium relief can be defined as the concession in premium rate offered by insurance companies to…

Q: Which of the following items is required by the Life Insurance and Annuity Replacement Rule? A. A…

A: The answer is stated below:

Q: Insurance planning is important to protect a person from an unforeseen event like premature death,…

A: Conventional insurance Conventional insurance is a insurance which protects the policy holder from…

Q: Which of Ike following statements is CORRECT about he Missialement of Age provision in a health…

A: The misstatement of age clause is the provision under the life insurance policy that clears the…

Classification Of Risk

Risk means when there could be a possibility that the returns expected from a particular project or investment may or may not match the investor's expectations. In other words, the uncertainty of an income arising from a source that would either be lower than expected or result in losses in risk exposure of the project. The higher the risk involved, the higher is the return expected by the investor as the investor is exposed to a high level of risk. There are various methods by which different types of risk can be assessed and avoided or mitigated.