Shared Flashcard Set

Details

Property and Casualty
Grrrrr
8
Insurance
Professional
04/15/2013

Additional Insurance Flashcards

 


 

Cards

Term
Risk
Definition
The chance of loss
Term
Insurance
Definition
A means of transferring the risk
Term
Peril
Definition
The cause if loss
Term
Hazard
Definition
The cause of loss
Term
What is a pure risk?
Definition
A risk that involves only the possiblility of loss.
Term
The law of large numbers says:
Definition
The more examples used to develop a statistic, the more reliable the statistic will be.
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