The uncertainties of direct and indirect losses to personal or real property due to fire,wind,accidents,theft,and other hazards are called ____________ risks.

Question

Quizplus · Accepted Answer

The uncertainties of direct and indirect losses to personal or real property due to fire, wind, accidents, theft, and other hazards are referred to as property risks. Therefore, option C is the best choice as it directly relates to the given scenario. Personal risks relate to the uncertainty of loss of income or assets due to disability, illness, or death. Business risks relate to financial losses arising due to unexpected situations impacting the profitability of the business. Liability risks relate to the uncertainties of legal obligations and financial losses arising due to claims of damage from the third party. Speculative risks relate to the uncertainty of profits or gains arising from market or business speculation.

The Uncertainties of Direct and Indirect Losses to Personal or Real