ITB 33 & 03-04-9 Insurance & Mitigating Risk

The possibility of having a loss is ______________.

• insurance

• liability

• protection

• risk

Amount a policy holder must pay for insurance coverage?

• coverage

• premium

• deductible

• bond

What a person needs to protect against loss; form of risk protection?

• insurance

• premium

• claim

• indemnify

Person or company who buys the policy?

• policy adjuster

• policy holder

• insurance agent

• adjuster

The risk that one may be sued or held responsible for injury or damage to another is called ______________.

• coverage

• claim

• liability

• collision

Person who investigates insurance claims and recommends a settlement?

• agent

• broker

• adjuster

• Jake

Amount the insured must pay before the insurance company pays a claim?

• $500

• premium

• $100

• deductible

A contract between an insurance company and policy holder that explains the amounts and types of coverage?

• policy

• term life

• insurer

• tax form

Request for payment from an insurer for any loss or damages covered by the insurance policy?

• policy

• deductible

• claim

• coverage

The company who agrees to supply coverage or protection?

• insured

• coverage firm

• INS

• insurer