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A major storm passes through Pennsylvania which causes wind damage to many homes. One homeowner does not experience any damage, but uses a hammer to smash his roof shingles to try and collect money from the insurance company. The insurer declines this claim because the loss is unintentional. Which part of the definition of insurance supports this denial of claim? O Risk Transfer O Risk Pooling k

A major storm passes through Pennsylvania which causes wind damage to many homes. One homeowner does not experience any damage, but uses a hammer to smash his roof shingles to try and collect money from the insurance company. The insurer declines this claim because the loss is unintentional. Which part of the definition of insurance supports this denial of claim? O Risk Transfer O Risk Pooling k

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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A major storm passes through Pennsylvania which causes wind damage to many homes. One homeowner does not experience any damage, but uses a hammer to smash his roof shingles to try and collect money from the insurance company. The insurer declines this claim because the loss is unintentional. Which part of the definition of insurance supports this denial of claim? Risk Transfer Risk Pooling O Indemnification O Payment of Fortuitous Loss
Transcribed Image Text:A major storm passes through Pennsylvania which causes wind damage to many homes. One homeowner does not experience any damage, but uses a hammer to smash his roof shingles to try and collect money from the insurance company. The insurer declines this claim because the loss is unintentional. Which part of the definition of insurance supports this denial of claim? Risk Transfer Risk Pooling O Indemnification O Payment of Fortuitous Loss
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