risk and insurance

workers compensation coverage is insurance that cover that removable assets of the business

• true

• false

the practice of firm cover losses with its own funds known as risk avoidance

• true

• false

product liability is refer to

• insured against a claim from members of the public who may injure

• claim arising from people who have suffered injury or damage from faulty product they have purchased

• coverage provided by a firm to employees

• insurance cover the removable assets of the business

predictability

casualty

unconnectedness

verifiability

is categorize under

• type of policy

• type of insurance

• the characteristic

  of insurable vs uninsurable

• type of risk

potential loss must be random and must occur independently

• casualty

• predictability

• verifiability

• unconnectedness

this forecast also helps insurers determine premiums charged to policyholders

• casualty

• predictability

• unconnectedness

• verifiability

minimize the frequency or severity of losses refer to

• casualty

• risk transfer

• pure risk

• risk control

loss must be verifiable as to cause ,time,place and amount.

• verifiability

• unconnectedness

• risk retention

• risk avoidance

such as financial investment involve the prossibility of gain or loss refers to

• pure risk

• risk control

• risk avoidance

• speculative risk

life insurance covers financial losses of individual property

• true

• false