What is the Definition of Risk?

What is the Definition of Risk?

The chance of loss or the person or entity that is insured.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Risk?

You can find random definition and meaning of insurance terms below:


What is the meaning of Surety Bond

a three-party agreement whereby a guarantor (insurer) assumes an obligation or responsibility to pay a second party (obligee) should the principal debtor (obligor) become in default.


What is the meaning of Surplus

insurance term referring to retained earnings.


What is the meaning of Surplus Line

specialized property or liability coverage available via nonadmitted insurers where coverage is not available through an admitted insurer, licensed to sell that particular coverage in the state.


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