BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Damage to machinery and property
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Impact on the health or life of a person
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Leakage of toxic products into the atmosphere
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Effect on the healthy life of the neighborhood
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All of the above
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Detailed explanation-1: -Risk takes on many forms but is broadly categorized as the chance an outcome or investment’s actual gain will differ from the expected outcome or return. Risk includes the possibility of losing some or all of an investment.
Detailed explanation-2: -In insurance terms, risk is the chance something harmful or unexpected could happen. This might involve the loss, theft, or damage of valuable property and belongings, or it may involve someone being injured.
Detailed explanation-3: -Most pure risks can be divided into three categories: personal risks that affect the income-earning power of the insured person, property risks, and liability risks that cover losses resulting from social interactions. Not all pure risks are covered by private insurers.
Detailed explanation-4: -Life insurance risk factors describe information about an individual that is needed to underwrite a life insurance policy, such as age, sex, weight, current health, medical history, height, tobacco use, and occupation.