• Moral hazards. This is the increase in probability of loss those results from evil tendency of insured person. It is the dishonesty tendency on part of the insured to defraud the insurance company.
• A physical hazard. This consist of physical properties that increase the chances of loss from various perils such as occupying a building under construction.
• Morale hazard. This includes careless attitude on the part of the insured person towards the occurrence of loss.
• Legal hazard. This occur due to violation of a non-conformance with laws, rules and regulations, prescribed practices or ethical standards.
skilled writter answered the question on April 27, 2018 at 17:46
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