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Match the Term with Its Definition

Question 83

Matching

Match the term with its definition. Some terms may not be used.

Premises:

Responses:

Economic or non-economic damages intended to make the claimant whole by compensating the claimant for any injuries or loss arising from the negligent action

Health maintenance organization

Stating in a property insurance policy that all direct damages are covered except those caused by perils specifically excluded

Named-peril approach

A managed-care network providing health insurance that is more expensive but offers a broader choice of medical providers

Economic damages

The possiblity of losses associated with the assets and earnings potential of a firm

Compensatory damages

Compensatory damages that relate to economic loss, such as medical expenses and loss of income

Pure risk

The uncertainty associated with an investment decision

Business risk

The uncertainty associated with a situation where only loss or no loss can occur

Peril

Identifying the specific perils covered in a property insurance policy

Disability insurance

A managed-care network providing health insurance that is less expensive but more limiting in choices of medical providers

Preferred provider organization

A cause of loss, either through natural events or through the actions of people

All-risk approach

Market risk

Premises:

Economic or non-economic damages intended to make the claimant whole by compensating the claimant for any injuries or loss arising from the negligent action

Stating in a property insurance policy that all direct damages are covered except those caused by perils specifically excluded

A managed-care network providing health insurance that is more expensive but offers a broader choice of medical providers

The possiblity of losses associated with the assets and earnings potential of a firm

Compensatory damages that relate to economic loss, such as medical expenses and loss of income

The uncertainty associated with an investment decision

The uncertainty associated with a situation where only loss or no loss can occur

Identifying the specific perils covered in a property insurance policy

A managed-care network providing health insurance that is less expensive but more limiting in choices of medical providers

A cause of loss, either through natural events or through the actions of people

Responses:

Health maintenance organization

Named-peril approach

Economic damages

Compensatory damages

Pure risk

Business risk

Peril

Disability insurance

Preferred provider organization

All-risk approach

Market risk

Correct Answer:

Premises:

Responses:

Health maintenance organization

Named-peril approach

Economic damages

Compensatory damages

Pure risk

Business risk

Peril

Disability insurance

Preferred provider organization

All-risk approach

Market risk