Question

Which type of loss exposure would include land and property attached to it?

Option 1: Personal loss exposure
Option 2: Liability loss exposure
Option 3: Property loss exposure
Option 4: Business loss exposure

Answer 1

The loss exposure type including land and attached property is Property loss exposure. This is distinct from personal or liability loss exposures and is specifically concerned with physical assets.

Step-by-step explanation:

The type of loss exposure that would include land and property attached to it is Option 3: Property loss exposure. This encompasses potential losses that owners or renters face due to damage or loss of their physical assets. It is different from Personal loss exposure, which typically covers individuals against personal risks such as death or illness, and from Liability loss exposure, which arises when an individual or entity may be held legally accountable for injury or damage done to others. Business loss exposure is more encompassing and typically refers to potential losses a business could suffer, including but not limited to property loss.