Package deal for Texas Property and Casualty Insurance questions and verified solutions graded A

A condition or situation that presents a possibility of loss is a (an): - exposure The purpose of insurance is to: - transfer risk Which hazard can be described as a careless attitude or general indifference on the part of the insured toward the occurrence of loss? - morale Which risk is in...

____ is uncertainty of loss - risk ____ is a transfer of risk from the insured to the insurer - insurance ____ risk means there is no chance of gain. It is insurable. - pure ____ risk means there is a chance of a loss or a gain. It is not insurable. - speculative a ____ is something that...

The businessowners policy liability coverage will pay for necessary medical expenses of others within what maximum time period? - 1 Year Which of the following covers a carrier for liability for loss to cargo while it is being transported in a truck? - Moto truck cargo policy- truckers form In...

Coverage for water backup or sump pump overflow is excluded from the Dwelling Policy. However, with the purchase of the water backup and sump pump overflow endorsement, coverage for up to $5,000 in loss or damage can be provided for an additional premium. What is the deductible associated with this ...

Insurance - The transfer of the possibility of a loss (risk) from an individual or business to an insurance company, which in turn spreads the costs of unexpected losses to many individuals Law of Large Numbers - The larger the number of people with a similar exposure to loss, the more predictabl...

Insurance - The transfer of risk through a legal contract Property - Covers real property and personal property against damage or loss resulting from covered causes of loss called perils casualty - covers non-property losses (3rd Party) Personal lines - Insurance for families and individual...