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Chapter 1: Risk and Insurance

This class was created by Brainscape user andres pujazon. Visit their profile to learn more about the creator.

By: andres pujazon
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Decks in this class (11)

Meaning of Risk
What is the definition of risk,
Can insurance companies predict a...
2  cards
Classification of Risk
What are the four main types of r...,
What is the definition for each t...
2  cards
Peril, Hazard and Loss
What is the definition of peril,
What is the definition of hazard,
What is the definition of loss
3  cards
Risk Management
Define what is risk management,
What are the three basic steps fo...,
What is the process of identifying
5  cards
Risk Handling Methods
What is the following risk handli...,
Define avoid,
Define prevent
6  cards
Insurance and Takaful
What is insurance,
What are the insurance policies t...,
What is takaful
6  cards
Functions of Insurance
What are the three main functions...,
Explain the sound risk transfer,
Explain the creation of the commo...
4  cards
Benefits of Insurance
What are the benefits of insurance,
Explain what is peace of mind,
Explain what is cost stabilization
8  cards
Nature of Insurable Risks
What makes an uninsurable risk,
List the characteristics of insur...,
Explain what is fortuitous in ter...
10  cards
Life and General Insurance
What are life insurance and gener...,
What is bancassurance
2  cards
The Insurance Market
What are the three main players o...,
What is stated in section 16 1 of...
2  cards

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Chapter 1: Risk and Insurance

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