Chapter 33.1 Key Terms Created by: Ashley DeZarn

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