Question

1) The Financial Definition of insurance: A) is that insurance is a contract in which one party agrees to compensate another party for losses covered by the contract BİS that insurance is a financial agreement that transfers the risk of insured losses to a risk pool by an insurer C) differs from state to state D) is that it is any pool for which the insurance mechanism works 2) The insurance mechanism: A) redistributes the cost of insured losses B) intends to make profits for social insurance policies C) only applies to private insurance companies D) is defined by law 2) All of the following are perils except A) beart attack B) tbeft C) forgery and embezzlement D) incortect instructions on the label of a pesticide

Answer 1

1 B ) Insurance is financial arrangement pools clients' risks to make payments more affordable for the insured.

2 A insurance mechanism is redistributes the cost of insured losses

3 A specific risk or cause of loss covered by an insurance policy, such as a fire, windstorm, flood, or theft. A named-peril policy covers the policyholder only for the risks named in the policy in contrast to an all-risk policy, which covers all causes of loss except those specifically excluded.

all of the perils except incorrect instruction on the label of pesticides