Ains 21 segment a Study guides, Class notes & Summaries

AINS 21 Segment A (ch 1-3) Latest 2024 Rated A+ Loss exposure Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs Risk management The process of making and implementing decisions that will minimize the adverse effects of accidental losses on an organization Loss prevention A risk control technique that reduces the frequency of a particular loss Loss reduction A risk control technique that reduces the severity of a particular loss ...

AINS 21 Segment A | 124 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+ 4 roles of insurance - 1. risk management technique 2. transfer system 3. business 4. contract loss exposure - any condition or situation that presents a possibility of loss, whether or not actual loss occurs risk management - making and implementing decisions that will minimize the adverse effects of accidental losses on an organization -avoid, prevent, reduce -from RM standpoint, insurance i...

Loss exposure Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs Risk management The process of making and implementing decisions that will minimize the adverse effects of accidental losses on an organization Loss prevention A risk control technique that reduces the frequency of a particular loss Loss reduction A risk control technique that reduces the severity of a particular loss Exposure unit A fundamental measure of the loss exposure as...

AINS 21 Segment A | 124 Questions and Answers 100% Verified 4 roles of insurance - 1. risk management technique transfer system business contract loss exposure - any condition or situation that presents a possibility of loss, whether or not actual loss occurs risk management - making and implementing decisions that will minimize the adverse effects of accidental losses on an organization -avoid, prevent, reduce -from RM standpoint, insurance is used to transfer cost of losse...

AINS 21 Segment A (ch 1-3) Questions and Answers 2024 / 2025 (Verified Answers by Expert)

AINS 21 Segment A | 124 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+ 4 roles of insurance - 1. risk management technique 2. transfer system 3. business 4. contract loss exposure - any condition or situation that presents a possibility of loss, whether or not actual loss occurs risk management - making and implementing decisions that will minimize the adverse effects of accidental losses on an organization -avoid, prevent, reduce -from RM standpoint, insuranc...

AINS 21 Segment A (ch 1-3) Study Guide.

4 roles of insurance - 1. risk management technique 2. transfer system 3. business 4. contract loss exposure - any condition or situation that presents a possibility of loss, whether or not actual loss occurs risk management - making and implementing decisions that will minimize the adverse effects of accidental losses on an organization -avoid, prevent, reduce -from RM standpoint, insurance is used to transfer cost of losses loss prevention - reduces frequency of loss -ex. wearing sa...

claim - a demand by a person or business seeking to recover from an insurer for a loss that may be covered by an insurance policy claimant - anyone who submits a claim to an insurer first party - the insured in an insurance contract third party - a person or business who is not a party to the insurance contract bu who asserts a claim against the insured claim representative (or adjuster) - a person responsible for verifying coverage, determining the cause of loss, determining the amount o...

AINS 21 Segment A (ch 1-3) | 92 Questions and Answers 100% Solved Loss exposure - Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs Risk management - The process of making and implementing decisions that will minimize the adverse effects of accidental losses on an organization Loss prevention - A risk control technique that reduces the frequency of a particular loss Loss reduction - A risk control technique that reduces the severity...