Introductions Baby!
This term means the chance of loss and involves uncertainty rather than certainty.
What is risk.
This hazard involves intentional dishonesty or misconduct that creates or exaggerates a loss.
What is a moral hazard.
These three elements form the fire triangle, and removing any one prevents combustion from continuing.
What are heat, fuel, and oxygen.
This coverage addresses discharge from plumbing systems that happens unexpectedly.
What is sudden and accidental water coverage.
This strategy keeps a thorough record of property that could be stolen.
What is a detailed inventory of assets.
This is the standard of care used to assess whether a person or organization took appropriate steps to prevent a loss.
What is reasonableness.
This technique splits assets across locations so one event cannot destroy everything.
What is separation.
This coverage replaces qualifying income lost when an insured peril damages property and interrupts normal operations.
What is business interruption insurance.
This fire class includes ordinary combustibles such as wood, paper, cloth, and trash.
What is Class A.
This device should be checked for condition, discharge route, and readiness when water rises.
What is a sump pump.
These five crime-related losses may be covered under a property policy.
What are theft, burglary, robbery, vandalism, and malicious acts.
This liability source involves conditions at an insured location, including access, maintenance, or an unguarded hazard.
What is premises liability.
These are the five stages in the risk management loop, in order.
What are identifying, analyzing, evaluating, treating, and monitoring risks.
This hazard arises when carelessness increases because someone assumes another party will absorb the consequences.
What is a moral hazard.
This fire class involves cooking media such as vegetable oils, animal oils, and fats.
What is Class K.
This type of water loss involves water moving across the ground toward a property.
What is overland water.
This policy may cover theft by an employee and dishonest acts by people who are not employees.
What is a commercial crime policy.
This contract concept limits contractual rights and duties to the parties to the agreement.
What is privity of contract.
This approach classifies loss frequency as almost nil, slight, moderate, or definite.
What is the Prouty approach.
This type of hazard is a tangible condition, such as defective equipment or unsafe storage, that increases loss potential.
What is a physical hazard.
This risk-assessment acronym COPE stands for this.
Construction, Occupancy, Protection, and Exposure.
This planning tool helps identify location-based exposure to flooding.
What is flood mapping.
This process uses regular building and property reviews to find possible theft exposures.
What is inspection.
This Latin tort principle means that the circumstances may allow the facts to speak for themselves.
What is res ipsa loquitur.
These two measures describe how often a loss may occur and how serious it may be.
What are frequency and severity.
These establish broad legal authority, duties, and responsibilities within a jurisdiction.
What are acts.
These are the three Fire Underwriters Survey levels used to describe municipal fire protection.
What are protected, semi-protected, and unprotected.
These three pathways can cause water release from a sprinkler system.
What are mechanical impact, activation, and leakage.
This strategy strengthens or protects a potential target to make theft more difficult.
What is target hardening.
These are the four stages in the ladder of supply, from creation through use.
What are upstream, transfer, downstream, and end point.
This central question begins the risk-identification process.
What is “What can go wrong here."
These provide detailed rules under an act and create enforceable legal obligations.
What are regulations.
This exercise should be conducted annually to test the full fire emergency plan.
What is an emergency drill
These four elements belong in a water loss prevention report.
What are observation, why it matters, recommendation, and next steps.
This phrase means taking property that does not belong to you.
What is wrongful abstraction of property.
These four stages structure a liability loss prevention report and turn observations into accountable action.
What are order, observe, document, and recommend.