Chapter 33.1 Key Terms by Eric McCoy

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