Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
|
Personal insurance
|
Insurance that covers the financial consequences of losses to individuals and families caused by death, illness, injury, disability, and unemployment.
|
|
|
Loss exposure
|
Any condition or situation that presents the possibiliity of a financial loss, whether or not loss occurs.
|
|
|
Cause of loss
|
Means by which property is damaged or destroyed (e.g., fire and theft); also called perils.
|
|
|
Property loss exposure
|
Any condition or situation that presents the possibility of a property loss.
|
|
|
Real property
|
Land, as well as buildings and other structures attached to the land or embedded in it.
|
|
|
Personal property
|
Tangible or intangible property that is not real property.
|
|
|
Liability loss exposure
|
Any condition or situation that presents the possibility of a liability loss.
|
|
|
Liability loss
|
A claim for moeny damages because of injury to another party or damage to another party's property.
|
|
|
Civil law
|
Body of law that deals with the rights and duties of citizens regarding one another.
|
|
|
Tort
|
A wrongful act, other than a crime or breach of contract, committed by one party against another.
|
