Chapter 2 discussion question
Describe the personal risk management process.
3)Define a peril
6)Explain the differences between pure risk and speculative risk
9)List typical perils covered under a personal auto policy
12) Describe the elements of a valid contract
15) Explain the differences between the principal of indemnity and a subrogation clause.
18) List unique characteristics of insurance contracts
21) List the responsibilities of an underwriter
24) Differentiate between a rider and an endorsement
27)Describe the differences between actual cash value, replacement cost, and appraised value.