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Definition of Risk
Definition of uncertainty (objective)
Definition of uncertainty (subjective)
Degree of risk
Frequency
Severity
Risk combination
Expected Value
Physical hazards
Moral hazards
Morale hazard
Legal Hazard
Peril
hazard
Financial risks
Non-financial risks
Dynamic risks
Static risks
Fundamental risks
Particular risks
Pure risks
Speculative risks
Systematic risk
Personal risks
Property risk
Liabilty risks
Risk arising from failure of others
Cost of losses problems
Burden of risk
Risk management
Risk management concept
Market risk
Credit risk
Liquidity risk
Operational risk
Reputational risk
Strategic risk
Compliance risk
Risk control
Risk reduction
Risk avoidance
Risk financing
Risk transfer
Risk retention or assumption
Intentional retention
Unintentional retention
High Severity/High Frequency methods
High severity/Low frequency methids
Low severity/High frequency methods
Low severity/Low Frequency
Six steps in the risk management process
Post-Loss Objectives
Pre-Loss objectives
Objective-based risk identification
Scenario-based risk identification
Taxonomy-based risk identifcation
Critical risks
Important risks
Unimportant risks
Social benefits of Insurance
Social Cost of Insurance
Individual risk events should be _______
Large numbers of similar risks should be _______
The loss must be ______
Adverse Selection
There should be an ______ ______ on the liability undertaken by the insurer
Moral hazards should be ______
Indemnity
Excess
Insurable Interest
Utmost Good Faith
Subrogation
Proximate Cause
Contribution
Private Insurance
Social Insurance
Public Guarantee Insurance
General Insurance Characteristics
General Insurance Products
Liability
Employers Liability
Motor Third Party Liability
Public Liability
Product Liability
Professional Indemnity
