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

The Cost of Medical Care

The Cost of Medical Care

Learn about the risks of not having health insurance in this informative article.

Will Power

Will Power

Preparing for the eventual distribution of your assets may not sound enticing. But a will puts the power in your hands.

Good Health is Good Business

Good Health is Good Business

Good employee health can be great for the company’s bottom line.