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9 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Hazard |
condition or situation that creates or increases a chance of loss. , ex, icy roads, driving while intoxicated |
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Physical |
poor health , overweight, blind |
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Moral |
dishonesty, drugs, alcohol abuse |
Moral |
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Morale |
careless attitude - reckless driving , jumping off a cliff, stealing, racing motorcycles, carefree, careless lifestyle |
careless |
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Loss |
the unintentional decrease in the valuse of an asset due to a peril |
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Peril |
immediate , specific event which causes loss, such as an earthquake or tornado, or an accident itself peril can be referred to as |
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Risk |
the potential for loss |
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Speculative risk |
is a risk that presents both the chance for loss or gain. Gambling is an example. Speculative risks are not insurable |
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Pure Risk |
is the only insurable risk and present a potential for loss only, such as injury, illnes , and death |
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