Ciig Insurance Practice Test & Exam Prep | Ghana

A peril is the cause of a loss, whereas a hazard is a condition that increases the likelihood or severity of that loss A peril is an insurable event, whereas a hazard is an uninsurable event under any circumstances A peril relates to property damage, whereas a hazard relates to human bodily injury A peril is a subjective risk, whereas a hazard is an objective risk measured by statistics