Insurance "Risk" Terms

A method of spreading the risk among a large group of people

• risk

• insurance

• liability

• personal risk

A risk that may result in gain or loss.

• pure risk

• liability risk

• speculative risk

• economic risk

Putting the policyholder back in the same financial condition as before the loss occurred.

• indemnification

• assumption

• deductible

• avoidance

The chance of loss or harm to personal property or real property.

• speculative risk

• liability risk

• economic risk

• property risk

A chance for loss with no chance for gain.

• insurable risk

• property risk

• pure risk

• speculative risk

A financial interest in life or property.

• indemnification

• life insurance

• insurable risk

• insurable interest

A chance of loss when your actions result in injuries to others or damage to their property.

• property risk

• personal risk

• liability risk

• pure risk

A risk that may result in gain or loss because of the changing economy.

• speculative risk

• economic risk

• liability risk

• risk

Lowering your chance of loss by not doing high-risk activities.

• risk shifting

• risk management

• risk reduction

• risk avoidance

Transferring risk by buying insurance to cover potential losses.

• risk shifting

• risk management

• risk avoidance

• risk assumption