ago in Finance by (52.0k points)

Question: The cause of a possible loss, such as fire windstorm theft etc. is known as _______.

Options:

  1.  Peril
  2.  Barratry
  3.  Both
  4.  None

Please log in or register to answer this question.

1 Answer

+1 vote
ago by (182k points)
selected ago by
 
Best answer

1. Peril

The cause of a possible loss, such as fire windstorm theft etc. is known as Peril.


More information:

Peril is a specific risk or cause of loss is covered by insurance policy, such as fire, storm, flood, or theft.

A risk-based policy covers only the policyholder with risks identified in the policy as opposed to a hazardous policy, which covers all causes of loss except those specifically specified.

Related questions

...