33.1 vocab Jayden Combs

3. the risk of harm caused by a human mistakes.
4. paid protection against loss due to injury or property damage.
7. a risk that meets an insurances company's criteria for insurance coverage.
10. the possibility of loss or injury.
11. occurs when conditions can be controlled to minimize the change of harm.

1. occurs when there is likelihood of economic loss.
2. is the threat of a loss with no opportunity for gain.
5. the possibility of a catastrophe caused by a flood, tornado, etc
6. a risk that is unacceptable to insurance carriers because the likely hood of loss is too high.
8. risk that cannot be controlled.
9. the systemic process of managing risk to achieve your objectives