Asset
An Asset is a kind of property that yields value or a return
Risk
Peril
Cause of loss or damage(eg earthquake,fire etc..)
Pooling
collecting numerous individual contributions (premiums) from various persons. These persons have similar assets which are exposed to similar risks.
An Asset is a kind of property that yields value or a return
- May be physical
- May be Non -physical
- May be Personal
Risk
- is a chance of Loss or damage
- is applied to certain assets that can be insured such as man life, house, car etc..
- is doubt concerning the outcome of the situation
Peril
Cause of loss or damage(eg earthquake,fire etc..)
Pooling
collecting numerous individual contributions (premiums) from various persons. These persons have similar assets which are exposed to similar risks.
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