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.

Have A Question About This Topic?

Thank you! Oops!
 

Related Content

The Latte Lie and Other Myths

The Latte Lie and Other Myths

Check out this video to begin separating fact from fiction.

Creative Ways to Motivate Your Employees

Creative Ways to Motivate Your Employees

Five creative (and inexpensive) ideas for motivating your employees.

Charitable Giving: Smart from the Heart

Charitable Giving: Smart from the Heart

Do you have causes that you want to support with donations?