Match the term with its definition.
-Stating in a property insurance policy that all direct damages are covered except those caused by perils specifically excluded
A)all-risk approach
B)business risk
C)compensatory damages
D)Economic damages
E)health maintenance organization (HMO)
F)market risk
G)named-peril approach
H)peril
I)preferred provider organization (PPO)
J)pure risk

Question

Quizplus · Accepted Answer

The all-risk approach in property insurance means that the policy covers all forms of direct damage unless they are explicitly excluded in the policy terms. This contrasts with a named-peril approach, where only the risks listed in the policy are covered.

Match the Term with Its Definition