GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Peril specifically mentioned as covered in an insurance policy is called ____
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Named Peril
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Service Provider
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Un-named Peril
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None of the Above
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Explanation:
Detailed explanation-1: -In the insurance industry, a named peril is a term used to define a specific type of damage or loss that’s stated by “name” in your policy. What does peril mean in insurance? Typically, in order for coverage to exist for a claim, it must be caused by a peril that’s covered under the policy.
Detailed explanation-2: -Coverage for “open perils” means you’re potentially covered in the event of any peril unless that peril has been excluded from your policy. Coverage for “named perils” means you’re only protected against the perils specifically listed in your policy.
There is 1 question to complete.