The insuring agreement provides a general description of the circumstances under which the policy becomes applicable.The circumstances include the covered loss-causing events, called:
A)exposures.
B)perils
C)moral hazard.
D)adverse selection.
E)morale hazard.

Question

Quizplus · Accepted Answer

Perils are the specific events or circumstances that can cause a loss, such as fire, theft, or natural disasters, and are typically outlined in the insuring agreement of an insurance policy.

The Insuring Agreement Provides a General Description of the Circumstances