Chapter 33.1 Key Terms Created by: Courtney Mansfield

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