What type of risks does non-life insurance typically cover?

Non-life insurance, often referred to as property and casualty insurance, encompasses a broad range of risks related primarily to assets, properties, and liabilities. This type of insurance is designed to protect individuals and businesses from potential financial losses due to events such as accidents, natural disasters, theft, or liability claims.

The rationale for identifying various risks including assets, properties, and life, as the correct answer lies in its comprehensive nature. Non-life insurance products typically cover real property (like homes and commercial buildings), personal property (such as cars and personal possessions), and liability risks (which can arise from actions that cause harm to others or damage to their property).

The other options are limited in scope or focus on specific aspects. The option mentioning risks associated with health and well-being is more aligned with health insurance and life insurance, which are distinct categories apart from non-life insurance. The choice stating "risks involving assets and liabilities only" excludes coverage for various other types of risks associated with properties or belongings. Lastly, the suggestion that non-life insurance only covers risks that can be quantified financially overlooks the broader range of insurable risks that may include both tangible and intangible assets.

Thus, the recognition of various risks including assets, properties, and life accurately reflects