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Understanding the meaning of risk
Telling the difference between peril and hazard
Understanding the concept of insurance
Learning about the types of insurance
Section 1 The concept of risk
Section 2 The concept of insurance
Section 3 The classification of insurance
Figure 1.1
Where there is risk,there is insurance.In other words,without risk,there is no insurance.Only when we know what risk really is,can we know what insurance is.When we are aware of the existence of risk,we want to know what insurance can do to help us prevent,control and reduce the risk.