Flashcards on G1: Basic Insurance Concepts & Principles, created by Adeline Tan on 16/03/2018.
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Created by Det Ferraris
over 11 years ago
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Copied by Adeline Tan
over 6 years ago
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Close
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Created by Det Ferraris
over 11 years ago
|
|
|
|
Copied by Adeline Tan
over 6 years ago
|
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Underwriting Department
Underwriter
Principle of Indemnity
Underwriter Responsibilities
Adverse Selection
Principle Distribution Exposure
Profitable Distribution of Exposures AKA Spread of Risks
Insurance
Large Group
Hardship
Catastrophic
Uncertain
Definite and Measurable
Predictable
Large C-H-U-M-P
Insurable Interest
Loss Exposure
4 Types of Loss Exposure
Property Loss Exposure
Liability Loss Exposure
Personal (Human) Loss Exposure
Personnel Loss Exposure
Peril
Hazard
3 Types of Hazards
Physical Hazard
Moral Hazard
Morale Hazard
Law of Large Numbers
Pure Risks
Speculative Risks
Risk
2 Types of Risks
