Chapter 33.1 Key Terms Created by Caleb O'Brien

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