- Study guides, Class notes & Summaries

LO 1: Explain the scope of property insurance in terms of perils and exclusions; the distinction between named-perils and all-risks coverage; and the concepts of peril, fortuitous event, and risk - ANSWER*Peril -Event that may cause injury, loss or destruction. -May be natural or human-made event -May or may not be insurable *Fortuitous Event -Insurable perils are accidental events -Property policy not intended to be a maintenance policy -Intentional acts and expected events are exclude...