What is Hazard? | LIFE-HEALTH-INSURANCE, PROPERTY-CASUALTY-INSURANCE Exam Prep

A hazard is a condition or circumstance that increases the likelihood or potential severity of a loss occurring from a particular peril, classified as physical, moral, or morale hazards. 📚 Learn more about Hazard and other key terms for your LIFE-HEALTH-INSURANCE, PROPERTY-CASUALTY-INSURANCE exam at Open Exam Prep. 🎯 This term appears on: LIFE-HEALTH-INSURANCE, PROPERTY-CASUALTY-INSURANCE 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 Hazard definition: https://www.open-exam-prep.com/glossary/hazard 💡 Exam Tip: Hazard = increases CHANCE of loss. Physical = tangible conditions. Moral = dishonesty/fraud. Morale = carelessness due to having insurance. Peril = actual cause of loss. --- #insurance #examprep #financeexam #life-health-insurance #property-casualty-insurance