2 Truths & a Peril
Air
Blow
Chicago
Wind
Separate coverage limits that allows one limit for bodily injury to each person; a second for bodily injury for all persons in each accident; and a third for all property damage in each accident.
Split Limit
Transfer and Retention are examples of
Risk Financing Techniques
A network of objects that transmit data to each other and to central hubs through the internet is known as...
Internet of Things
Electricity
Flash
Grease
Lightning
One coverage that applies to all damages arising from bodily injury and/or property damage from a single accident.
Single Limiit
All tangible or intangible property that is not real property
Personal Property
This type of insurance is designed to cover property that has special value or that frequently moves from one location to another.
Inland Marine Insurance
Ice
Stone
Caesar
Hail
Coverage that provides a source of recovery for occupants of a covered auto or for qualifying pedestrians who are injured in an accident caused by an at-fault motorist who does not have the state minimum liability limits.
Uninsured Motorist(UM Coverage)
Scan Environment, Identify Risks, Analyze Risks, Treat Risks, Monitor and Review
This takes place when the insured and the insurer cannot agree on the amount of the loss, as a method to resolve the disagreement.
Appraisal
Combustion
Convection
Blazing Saddles
Fire
Coverage that applies when a negligent driver has liability insurance at the time of the accident but has limits lower than those of the injured person's coverage.
Underinsured Motorist(UIM coverage)
Arson, Chemical leakage, Collapse, Electrical Overload, Vandalism are examples of
Human Risk Sources
This plan makes insurance coverage available when insurers in the voluntary market cannot profitably provide it.
FAIR
Larceny
Tort
GTA: The Trilogy
Theft
In case law, a method of transportation that is indiscriminately offered to a general public, such as a taxi or public bus.
Public or Livery Conveyance
A monetary award to compensate a victim for losses, such as pain and suffering, that does not involve specific, measurable expenses
General Damages
According to Dr. Reese, this is the first and most important step of risk management.
Avoidance