Licentiate Examination - IC 01 - Principles of Insurance Exam - Important Points
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- Speculative risks - In these risks there is a chance of gain or loss. Examples - Stock Market Trading
- Fundamental risks - These risks affect a lot of people together
- Particular risks - These risks affect only specific persons
- Hazard is a Condition, that increases the Chances of Loss. It is something that accelerates the Peril.
- Hazard can be classified as Physical Hazards and Moral Hazards.
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