Insurance

What is Risk?

Risk

[risk]

noun

1.

Risk is the likelihood that an insured event occurs, that is, an event in which the insurance company is likely to pay out a Claim. Insurance companies use Risk when determining whether to insure a home, car, or individual, and when setting Premiums. People with lower Risk generally pay lower rates, and people with higher Risk generally pay higher rates.

Share |

Have A Question About This Topic?

Thank you! Oops!

Related Content

Career With a Special Needs Child

Career With a Special Needs Child

Women and the life-work juggling act.

Did You Know This Fact About Flood Damage?

Did You Know This Fact About Flood Damage?

Prevent major flood damage with this tip.

5 Tips for Smarter Decisions in Turbulent Times

5 Tips for Smarter Decisions in Turbulent Times

Take the long view - 5 tips for staying on track even during volatile times