| A | B |
|---|
| Risk | The possibility of incurring a loss |
| Risk Management | A systematic process of managing risk to achieve set objectives. |
| Economic Risk | A risk that can result in financial loss |
| Non-economic Risk | A risk that may result in embarrassment or inconvenience without financial impact. |
| Insurable Risk | A risk that meets the criteria of an insurance company for coverage. |
| Speculative Risk | A risk that offers the chance of gain or loss. |
| Controllable Risk | Occurs when conditions can be controlled to lessen the chance of harm. |
| Uncontrollable Risk | A risk that cannot be controlled or reduced by your actions. |
| Pure Risk | The threat of a loss without an opportunity for gain. |
| Property Insurance | Insurance that is purchased to protect business from financial loss due unsuspectingly damages to their buildings, equipment, and building contents, including inventory. |
| Business Interruption Insurance | Insurance that provided compensation for ongoing business expenses that occur if a business has a temporary shutdown |
| Disability Insurance | Insurance that provides payments to employees who are unable to work for an extended period due to serious illness or injury. |
| Life Insurance | Insurance that pays the amount of the insurance policy upon the death of the insured. |
