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

Pay Yourself First

Pay Yourself First

It sounds simple, but paying yourself first can really pay off.

How Growing a Business is Like Raising a Child

How Growing a Business is Like Raising a Child

Careful and considered planning can help you nurture your business through its lifecycle into an independent enterprise.

Did You Know This Fact About Basement Flooding?

Did You Know This Fact About Basement Flooding?

A simple precaution can help prevent basement flooding.