term1 Definition1term2 Definition2term3 Definition3
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Risk
UNCERTAINTY OR CHANCE OF LOSS.
Risk Transferred
BUY or PURCHASE insurance, you TRANSFER the rick of Financial Liability to the Insurer
SELF INSURED
do not buy Insurance
Risk Retention.
did not transfer risk to the Insurer you are practicing
Risk Reduction
Mitigation of Risk
Pure Risk
Insurance is Based upon
chance of LOSS with NO chance of Gain
Speculative Risk
chance of Gain
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