The term used for event in which large number of losses occur to life and property.
Answers
Answer:
This chance of loss is called as risk. The cause of the risk event is known as peril.
Explanation:
The likelihood that an insured event will occur, requiring the insurer to pay a claim. For example, in life insurance, the insurance risk is the possibility that the insured party will die before his/her premiums equal or exceed the death benefit.
Answer:
The term used for event in which large number of losses occur to life and property is disaster.
Explanation:
A catastrophe is a major issue that occurs over a short or long period of time and results in widespread losses of people, property, or the environment that are more than what the affected community or society can reasonably expect to be able to recover from using its own resources. [1][2] Both "natural disasters" and "human-instigated catastrophes" result from manmade dangers, and both categories are frequently used to categorise disasters. Today, it can be challenging to distinguish between natural, man-made, and human-accelerated disasters.
Avalanches, flooding, cold and hot waves, droughts, earthquakes, cyclones, landslides, lightning, tsunamis, volcanic activity, wildfires, and winter precipitation are a few examples of natural hazards.
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