Shared Flashcard Set

Details

Property and Casualty
Grrrrr
8
Insurance
Professional
04/15/2013
Click here to study/print these flashcards.

Create your own flash cards! Sign up here.

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.
Supporting users have an ad free experience!