Chapter 33.1 Key Trms Created By Devan Patel

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Across
  1. 1. a situation involving exposure to danger.
  2. 7. an incident or event.
  3. 8. a principle or standard by which something may be judged or decided.
  4. 11. DEFINITION of 'Uninsurable Risk' A hazard or condition that has either a high likelihood of loss, or in which the insurance would be considered against the law. Insurance companies limit their losses by not taking on certain risks that are very likely to soon result in a loss.
  5. 12. cant control getting
  6. 13. reduce (something, especially something unwanted or unpleasant) to the smallest possible amount or degree.
  7. 14. Pure risk is a category of risk in which loss is the only possible outcome; there is no beneficial result. Pure risk is related to events that are beyond the risk-taker's control and, therefore, a person cannot consciously take on pure risk. This is the opposite of speculative risk.
  8. 15. Economic risk is the chance that macroeconomic conditions like exchange rates, government regulation, or political stability will affect an investment, usually one in a foreign country.
Down
  1. 2. 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.
  2. 3. Smoking is a major risk factor for cancer; depression as a risk factor in suicide.
  3. 4. Natural hazards are naturally occurring physical phenomena caused either by rapid or slow onset events which can be geophysical (earthquakes, landslides, tsunamis and volcanic activity), hydrological (avalanches and floods), climatological (extreme temperatures, drought and wildfires), meteorological (cyclones and ...
  4. 5. a period of ten years.
  5. 6. (in business) the forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.
  6. 9. Risk that the group may incur losses due to drain or loss of personnel, deterioration of morale, inadequate development of human resources, inappropriate working schedule, inappropriate working and safety environment, inequality or inequity in human resource management or discriminatory conduct.
  7. 10. An insurable risk is a risk that meets the ideal criteria for efficient insurance. The concept of insurable risk underlies nearly all insurance decisions.