Hazard insurance is the portion of your homeowners insurance policy covering causes of physical damage or loss to your property. B) Define physical hazard, moral hazard, attitudinal hazard, and legal hazard. Insurance: Insurance is a way of protecting an institution or an individual from losses. Hazard can be defined as the condition due to which occurrence or severity of loss increase. Thus, it can be said that the peril is the cause due to which loss occurs and hazard is the condition which increases the severity of loss. Physical Hazards are physical conditions that increase the possibility of a loss. They indicate the dangers of the subject of insurance which can be identified by inspection of the risk. Examples of Physical Hazard: Physical hazard: A physical hazard is an agent, factor or circumstance that can cause harm with or without contact.Examples are: Slippery floors, objects in walkways, unsafe or misused machinery, excessive noise, poor lighting, fire, etc. Chemical hazards: A chemical hazard is a type of occupational hazard caused by exposure to chemicals in the workplace. Physical hazards are conditions surrounding property or persons that increase the danger of loss. Read More Inspire your inbox – Sign up for daily fun facts about this day in history, updates, and special offers. Physical Hazards of Insurance. Physical hazards indicate those dangers of the subject matter of insurance which can be ascertained or identified by mere inspection of the risk. The hazards are apparent in the subject- matter itself. The dangers are visible from the very nature, construction and situation of the subject-matter. In personal accident insurance, physical hazard relates to age, occupation, health, and physical condition etc, of the proposer. In liability insurance, the nature, construction, occupation of the premises and history of past liability are all instances of physical hazards. In property insurance, the concept follows the pattern of fire insurance. Definition. Physical Hazard — the material, structural, or operational features of a business that may create or increase the opportunity for injury or damage. Links for IRMI Online Subscribers Only: CPI IV.E.
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-- Created using PowToon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. PowToon is a free... About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy & Safety How YouTube works Test new features Press Copyright Contact us Creators ... This program covers: What is hazard definition?Hazards definition in safety,Types of hazards in the workplaceWhat are the steps of hazard identification and ... HACCP Series discuss establishment of HACCP system and it`s definition. Illustrating different hazards which may impact product safety. In this video we give... Are you overlooking hazards in your workplace? Wthout a systemic approach it can be easy to miss them! This video presents a simple system for hazard identif... Edited version of a Twitch stream. I needed confidence (and money) boosters after the previous stream, so I set the miner project aside (after explaining its future) and took on an asteroid ... A physical hazard is a type of occupational hazard that involves environmental hazards that can cause harm with or without contact. Physical hazards include ergonomic hazards, radiation, heat and... Topics Discussed:Understanding Peril and Hazard (Physical Hazard, Moral , and Morale Hazard) - Insurance Law and Practice.Be With Us While We Grow.Click here... An explanation of Moral Hazard and Adverse Selection using a simple example.Enjoy!(I am aware that the constant camera zoom adjustment is annoying. It is aut... From: Lec 11 8.01 Physics I: Classical Mechanics, Fall 1999 - Work - Kinetic Energy - Potential Energy - Conservative Forces - Conservation of Mechanical E...
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