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

6 Tips to Manage Market Stress

6 Tips to Manage Market Stress

Things you and clients can do to manage market stress

Home Mortgage Deduction

Home Mortgage Deduction

Use this calculator to assess the potential benefits of a home mortgage deduction.

Succeeding at Business Succession

Succeeding at Business Succession

There are a number of reasons for business owners to consider a business succession plan sooner rather than later.