C130 Exam Review

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Name three types of risk:

Personal risks - chance of loss arising from a person’s own bodily injury/loss of life/or loss of income

Property risks - chance of loss arising from the destruction of or damage to property.

Direct loss are those involving damage to or destruction of the property insured

Indirect losses occur because of direct losses

Liability risks - chance of loss arising from an individual’s obligation to pay damages because of the injury or death of another or damage to another's property.

Negligent acts from:

His or her conduct

The operation of automobiles

The ownership or occupancy of property

The manufacture of products

The rendering of professional services