Across
- 4. A hazard or condition that has either a high likelihood of loss, or in which the insurance would be considered against the law.
- 6. Cannot be controlled.
- 8. The risk of harm caused by human mistakes, dishonesty, or another risk that is attributed by people.
- 10. The threat of a loss with no opportunity for gain.
- 11. occurs when there is likelihood of economic loss.
Down
- 1. The chances of loss from various factors that can be reduced or avoided altogether. An astute business manager might take steps to identify most forms of controllable risk facing their company and take steps to put internal control procedures in place to reduce the chances of such risks resulting in actual losses.
- 2. A risk that meets the ideal criteria for efficient insurance.
- 3. A practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium.
- 5. The forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.
- 7. The possibility of a catastrophe caused by flood, tornado, hurricane, fire, lightning, drought, or earthquake.
- 9. A situation involving exposure to danger.