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Business Inssurance
Finance vocabulary
| sentence | term/definition |
|---|---|
| If your trucks carry $1M in cargo daily, your total financial e.............. is far higher than a local courier's." | exposure (The state of being subject to a loss; the total value at risk.) |
| A multinational company has a high r............... t...............; they might choose a massive deductible to save on premiums | risk tolerance (The amount of risk an individual or organization is willing to accept or retain before transferring it to an insurer.) |
| "Leaving the warehouse storage bays unventilated during the summer months created a severe h.................. that significantly increased the probability of a chemical fire." | hazard (A specific condition or situation that increases the probability or severity of a loss) |
| Based on .................. ................., logistics companies operating in winter conditions face a 12% higher collision rate. | actuarial data (Statistical information, calculations, and historical tables used by insurance companies to estimate the probability of future claims.) |
| We need to establish your ................ ............... for third-party property damage before we can bind the coverage. | liability limits (The maximum amount an insurance company will pay out for a covered loss under a specific policy.) |
Created by:
PRO Teacher
shirley jaldin
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