33.1 Vocab words

6. A paid protection against loss due to injury or property damage.
7. Occurs when conditions can be controlled to minimize the chance of harm.
8. A risk that meets an insurance company's criteria for insurance coverage.
9. The systemic Process of managing risk to achieve your objectives.
11. The possibility of a catastrophe cause by flood, tornado, hurricane, fire, lightning, drought, or earthquake.

1. occurs when there is likelihood of economic loss.
2. Cannot be controlled.
3. A risk that is unacceptable to insurance carries because the likelihood of loss is too high.\
4. The risk of harm caused by human mistakes, dishonesty, or another risk that is attributed to people.
5. The threat of a loss with no opportunity for gain.
10. The possibility of loss or injury.