Ray's U1&2 property and liability concepts

Risk

Insurance

Property Insurance

Liability Insurance

Personal Contract

Conditional Contract

Contract of Adhesion

Peril

Hazard

Physical Hazard

Moral Hazard

Morale Hazard

Direct Loss

Indirect Loss

Loss Settlement Valuations

Specific Insurance

Blanket Insurance

Straight Deductible

Percentage Deductible

Franchise Deductible

Legal Liability

Negligence

comparative negligence

Subrogation

assignment

Liberalization