Indemnity : condition or situation that creates or increases chance of loss in an insured risk.

Peril : probable cause (such as an earthquake, fire, theft) that exposes a person or property to the risk of damage, injury, or loss, and against which insurance cover (policy) is purchased.

Risk : situation involving exposure to danger/ uncertainty regarding loss.

insurance compensation for damages or loss. When the term indemnity is used in the legal sense, it may also refer to an exemption from liability for damages

Insurance is that a person or organization can obtain an insurance policy on the life of another person

Peril : probable cause (such as an earthquake, fire, theft) that exposes a person or property to the risk of damage, injury, or loss, and against which insurance cover (policy) is purchased.

Physical Hazard : attitude and ethical conduct of the insured. It cannot be managed but can be avoided by declining to insure the risk.

Moral Hazard : Characteristic that increase the outcome of a loss for examples the wooden construction of building or the poor mechanical condition of a motorcycle.

Wooden construction of building or the poor mechanical condition of a motorcycle.

Attitude and ethical conduct of the insured. It cannot be managed but can be avoided by declining to insure the risk.

i.Burning down own house to collect on fire insurance claim.

ii.Damage own car and issue fraud insurance claim and issue have unreasonable huge amount of claim.

To prevent the insured from getting more indemnity when he/she two or more aveneus to recover the loss.

To make sure activities that are ongoing and interrelated to show the activities are not done in a linear but step-by-step method.

i. Out of financial

ii. Out of tort

iii.Out of investment

iv. Out of contract

i. Out of tort,

ii. Out contract

iii. Out of subject matter

iv. Out of statue

Contract consist of contracts of insurance where insurable interest is measurable, for example property, pecuniary, and liability insurance contracts.

The subject matter of insurance as property,

potential legal liability, rights, life or limbs insured under a policy.

is the other corollary of indemnity, which has been developed to prevent the insured that has two or more policies covering the same loss from being more indemnified.

Insured peril : Which are not written clearly not mention covered in a policy.

Uninsured peril : Which are written clearly excluded (not) covered in policy.

Excluded peril : Which are written clearly excluded (not) covered in policy.

Illnesses

Injuries

Lawsuits

Other disasters