Question

Describe the difference between a peril and a hazard.

(A) A peril is a hazard gone wrong.

(B) A peril is a cause of loss, like fire. A hazard is a condition that exists beforehand that increases the likelihood of such a loss, like a messy storeroom or garage that contains lots of toxic chemicals, oily rags, etc.

(C) A hazard is a cause of loss and a peril is the condition that created it.

(D) When someone drives too fast, that's a peril. When they get into an accident and kill someone, that's a hazard

Answer 1

A peril is a cause of loss, while a hazard is a condition that increases the likelihood of that loss occurring.

Step-by-step explanation:

A peril is a cause of loss, like fire. A hazard is a condition that exists beforehand that increases the likelihood of such a loss, like a messy storeroom or garage that contains lots of toxic chemicals, oily rags, etc.

In simpler terms, a peril is the specific event or cause that leads to a loss, while a hazard is a condition or situation that increases the chances of that loss occurring.

For example, if a fire breaks out in a building, the fire itself is the peril, and any conditions that contributed to the fire, such as a cluttered and poorly maintained storeroom, would be considered hazards.