Which of the following statements correctly differentiate between perils and hazards?
A) Perils refer to the number of losses during a specified period and hazards refer to the average dollar value of a loss per occurrence.
B) Both perils and hazards are causes of loss; perils are tangible, hazards are intangible.
C) Perils are causes of loss; hazards are conditions that increase perils.
D) Perils are diversifiable risks; hazards are nondiversifiable risks.
E) Perils are consequences of losses; hazards are cause of losses
Correct Answer:
Verified
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