Insurance Perils and Hazards

The definition of a peril is, “the cause of a potential loss”. The definition of a hazrd hazard is, “the condition  which increases the risk or seriousness of a loss”. There are four types of hazards known to the insurance professional. Physical hazards are the first which include hazards which arise from structural or operational features of the situation.  For example a slippery floor or a huge tree branch in the middle... [Read More...]