Which of the following statements is CORRECT about perils in property insurance polices? O A A property insurance policy must contain a list of all covered perils. OB. An HO-00-02 (HO-2) Form provides coverage for more perils than a HO-00-03 (HO-3) Form. A peril is defined as the cause of a loss. A peril increases the chance of loss. OC O D.

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
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Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Which of the following statements is CORRECT about perils in property insurance policies?
OA.
A property insurance policy must contain a list of all covered perils.
OB.
An HO-00-02 (HO-2) Form provides coverage for more perils than a HO-00-03 (HO-3) Form.
A peril is defined as the cause of a loss.
O. C.
O D.
A peril increases the chance of loss.
10
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Transcribed Image Text:Which of the following statements is CORRECT about perils in property insurance policies? OA. A property insurance policy must contain a list of all covered perils. OB. An HO-00-02 (HO-2) Form provides coverage for more perils than a HO-00-03 (HO-3) Form. A peril is defined as the cause of a loss. O. C. O D. A peril increases the chance of loss. 10 Recording
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