Perils

Bayani Gaba-gaba

Ask a shopkeeper what her fire policy covers and she will say fire. Ask her whether it pays when the fire brigade floods her stock with water to put out a blaze next door, and she will hesitate. The answer turns on a single word that runs through every claim ever settled: the peril, the actual cause of the loss, and whether the policy names it as covered, says nothing about it, or shuts it out.

In this lesson you will learn exactly what a peril is and how it differs from a risk and a hazard, meet the three families of peril that decide every claim (insured, uninsured and excepted), and master the doctrine of proximate cause, the rule that examiners use to ask whether a given loss is payable. Get the peril right and you can predict the insurer's answer before the claims officer opens the file.

Manufura

  1. Define a peril and give examples of insured and excepted perils
  2. Distinguish clearly among a peril, a risk and a hazard
  3. Explain how the peril insured against determines whether a claim is payable
  4. Classify given events correctly as perils, risks or hazards

Takardar Darasi

A draper in Lagos insures her shop against fire. One night a fire starts in the lock-up next door, and the fire service pours water through her doorway to stop the flames spreading. Her stock is never touched by fire at all, yet it is ruined by water. She reads her policy, sees the word fire and not the word water, and assumes she cannot claim. She is wrong, and the reason she is wrong is the whole of this topic. What a policy pays for is not decided by the immediate cause of the damage but by the peril that set the chain of events in motion, and whether that peril is one the policy insured. Learn to read the peril and you can read the claim.

Nazarin Darasi

Barka da kammala darasi akan Perils. Yanzu da kuka bincika mahimman raayoyi da raayoyi, lokaci yayi da zaku gwada ilimin ku. Wannan sashe yana ba da ayyuka iri-iri Tambayoyin da aka tsara don ƙarfafa fahimtar ku da kuma taimaka muku auna fahimtar ku game da kayan.

Za ka gamu da haɗe-haɗen nau'ikan tambayoyi, ciki har da tambayoyin zaɓi da yawa, tambayoyin gajeren amsa, da tambayoyin rubutu. Kowace tambaya an ƙirƙira ta da kyau don auna fannoni daban-daban na iliminka da ƙwarewar tunani mai zurfi.

Yi wannan ɓangaren na kimantawa a matsayin wata dama don ƙarfafa fahimtarka kan batun kuma don gano duk wani yanki da kake buƙatar ƙarin karatu. Kada ka yanke ƙauna da duk wani ƙalubale da ka fuskanta; maimakon haka, ka kallesu a matsayin damar haɓaka da ingantawa.

  1. A peril is best described as: A. The uncertainty that a loss will occur B. A condition that makes a loss more likely C. The actual cause of a loss D. The amount payable when a loss occurs Answer: C
  2. Which of the following is an excepted peril under a standard fire policy? A. Lightning B. Explosion C. War D. Fire Answer: C
  3. A fire breaks out and the fire service uses water to put it out, ruining the insured stock. Under a fire policy, the proximate cause of the loss is: A. Water B. Fire C. The fire service D. Negligence Answer: B
  4. Which of the following is a peril rather than a hazard? A. Worn brake pads B. Storing petrol indoors C. Theft D. A watchman who sleeps on duty Answer: C
  5. A fire policy expressly excludes riot. During a riot, a mob sets the insured shop on fire and it is destroyed. The insurer will: A. Pay in full, because fire is insured B. Pay half the loss C. Pay nothing, because the proximate cause is riot D. Pay only the value of the building Answer: C

Littattafan da ake ba da shawarar karantawa

Principles of Risk Management and Insurance
Principles of Risk Management and Insurance
Sunaƙa: Thirteenth edition
Mai wallafa: Pearson
Shekara: 2016
ISBN: 978-0-13-408257-8
Bayanan bayanin.: The standard introduction to risk and insurance, covering risk management, insurer operations and the main lines of life, health, property and liability cover.
Fundamentals of Risk and Insurance
Fundamentals of Risk and Insurance
Sunaƙa: Tenth edition
Mai wallafa: Wiley
Shekara: 2008
ISBN: 978-0-470-08753-4
Bayanan bayanin.: A clear account of the nature of risk and the economics of insurance, written for beginning students across life, health, property and liability insurance.
Fundamentals of Insurance
Fundamentals of Insurance
Sunaƙa: Second edition
Mai wallafa: Himalaya Publishing House
Shekara: 2017
ISBN: 978-93-5097-079-9
Bayanan bayanin.: An accessible treatment of insurance in four parts: the basics of risk, insurance management, life insurance and non-life insurance.

Tambayoyin Da Suka Wuce

Kana ka na mamaki yadda tambayoyin baya na wannan batu suke? Ga wasu tambayoyi da suka shafi Perils daga shekarun baya.

WAEC SSCE - Insurance - 2015

Tambaya 1 Rahoto

Explain the following terms under marine insurance:

(a)       hull policy

(b)       cargo policy

(c)       freight policy

(d)       marine perils

(e)       average

 

Duba Amsa