Ch 33.1 Terms by Megan Baurle

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Across
  1. 2. threat of a loss with no opportunity for gain
  2. 5. risk that meets an insurance company's criteria for insurance coverage
  3. 7. paid protection against loss due to injury or property damage
  4. 9. occurs when there is likelihood of economic loss
  5. 10. possibility of a catastrophe caused by a flood, tornado, hurricane, fire, lightening, drought, or earthquake.
  6. 11. occurs when conditions can be controlled to minimize the chance of harm
Down
  1. 1. risk of harm caused by human mistakes, dishonesty, or another risk that is attributed to people
  2. 3. systemic process of managing risk to achieve your objectives
  3. 4. cannot be controlled
  4. 6. risk that is unacceptable to insurance carriers because the likelihood of loss is too high
  5. 8. possibility of loss or injury