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Distinguish between informal and formal organizations.Are they complementary or contradictory?
Real Property
Land and anything permanently attached to it, such as buildings and fixtures, considered a form of real estate.
Personal Property
Items owned by an individual or entity that are movable and not fixed to real estate, such as furniture, vehicles, and electronics.
Peril
A particular hazard or reason for loss that an insurance policy protects against, for example, fire, theft, or acts of nature.
Professional Insurance
Insurance coverage designed to protect professionals from liability claims resulting from their business activities, such as errors, omissions, or neglect.
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