Examveda
Examveda

Occurrence of _________ has to be _________ and not a _________ of the insured person.

A. Peril, uncertain, creation

B. An event, certain, creation

C. Risk, hazardous, profit

D. An event, random, creation

Answer: Option A

Solution(By Examveda Team)

Occurrence of peril has to be uncertain and not a creation of the insured person. A specific risk or cause of loss covered by an insurance policy, such as a fire, windstorm, flood, or theft. A named-peril policy covers the policyholder only for the risks named in the policy in contrast to an all-risk policy, which covers all causes of loss except those specifically excluded.

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Related Questions on Insurance

State the incorrect sentence

A. No Maturity claim is paid on the close of Term insurance

B. In Money Back policy interim payments are made after certain frequencies

C. In Money back policy on death within the policy duration full sum assured is payable without deducting the interim instalments already paid

D. There is no such thing as rider benefit in a policy contract