Chapter 33.1 Key Terms Created by: Andrea Axsom

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