Insurance Terms

2. The process of evaluating the risk & exposures of potential clients.
4. Anything that increases the chance that a loss will occur.
6. A person in a position of financial trust.
7. Failure to exercise the care that a reasonable person would exercise in the like circumstances.
9. "one-sided contracts"
11. Insurance protects an insured from financial losses arising out of liability claims by transferring the burden of the loss from the insured to the insurer.
12. A contract that transfers the risk of financial loss from an individual or a business to an insurance company.

1. ____ property- furniture, appliances, clothing, tools, & other moveable property.
3. A temporary oral or written statement made by the agent that gives the insured immediate coverage for a specified time.
5. The amount that must be paid out of pocket by the policy owner before an insurer pays any expenses.
8. The cause of loss.
10. The Possibility that a loss will occur.
13. ____ property- Permanent structures & buildings.