Question

Circumstance including possibility of loss or no loss

Q: Answer-Circumstance including possibility of loss or no loss but no possibility of gain is termed as?

Pure risk, also known as absolute risk, is a category of hazard in which the outcomes are a loss or no loss, and there is no opportunity for gain. ... There are products available to mitigate pure risk hazards, such as homeowners insurance, which helps protect homeowners against the destruction of their homes.

but no possibility of gain is termed as?

A Product Liability

B Pure Risk

C Pure Premium

D Retrospective Rating

E None of these

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Circumstance including possibility of loss or no loss

Solution