P & C Terms Crossword Puzzle

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Across
  1. 4. The business of insurance requires that all parties to the insurance
  2. 6. A false statement of a material fact given by an insurer
  3. 7. Misrepresenting a policy with the intention of inducing a policy owner to change or replace an existing policy
  4. 9. The cause of loss insured against in an insurance policy
  5. 11. A unit of measure used to determine rates charged for insurance coverage
  6. 12. The uncertainty or chance of loss occurring and is categorized as either pure or speculative types of risk
  7. 14. Careless attitude that could increase the chance of loss
Down
  1. 1. A person who acts on the behalf of the insurer to sell, negotiate or effect insurance contracts - also known as an agent
  2. 2. The section of an insurance policy that details what perils are not insured against and what persons are not insured
  3. 3. A dishonest predisposition on the part of an insured which increases the chance of loss
  4. 5. Transfer of risk to an insurance company, which in turn spreads the costs of unexpected losses to many individuals
  5. 8. The intentional act of relinquishing a known right, claim or privilege
  6. 9. The money paid to the insurance company for the policy of insurance
  7. 10. The reduction, decrease, or disappearance in value of the property caused by a covered peril insured against
  8. 13. A condition or situation which creates or increases the probability of or extent of a probable loss from a peril