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insurance terms and concepts

This class was created by Brainscape user Kaliaokalani Gonzalez. Visit their profile to learn more about the creator.

By: Kaliaokalani Gonzalez
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Decks in this class (12)

What insurance is and how it works
define insurance how it works 4 characteristics of a legal contract demonstrate how insurance gives financial protection define insured and insurer
5  cards
Characteristics of Insurance contracts
define 6 characteristics of insurance contract
16  cards
Types of Insurers
Types of insurance providers and Government entities
19  cards
Hazards & risk
2 meanings of risk 6 conditions of a risk
16  cards
Risk Management
Risk management,
Risk avoidance,
Risk reduction
5  cards
Important Terms
Insurer,
Insured,
First named insured
16  cards
Types of Hazards & Fraud
What are the different types of h...,
Moral hazard,
Morale hazard
9  cards
Cause & Loss
Proximate cause,
Occurrence,
What are the two types of losses
5  cards
Interest, Subrogation, & claims
define claim and explain the basic claims process differentiate between insurable interest and lender interest explain the concept of subrogation
17  cards
valuation, deductibles, and coinsurance
distinguish different types of methods of valuation define deductibles and how they apply to indemnificaiton explain how coinsurance protects the insurer
27  cards
Liability Insurance and policy Limits
Liable,
Liability insurance,
Negligence
22  cards
Liability & Law
Stautory law,
Common law,
Contract law
36  cards

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insurance terms and concepts

  • Class purpose General learning

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