Insurance

What is Risk?

Risk

[risk]

noun

1.

Risk is the likelihood that an insured event occurs, that is, an event in which the insurance company is likely to pay out a Claim. Insurance companies use Risk when determining whether to insure a home, car, or individual, and when setting Premiums. People with lower Risk generally pay lower rates, and people with higher Risk generally pay higher rates.

Share |
 

Related Content

Forecast

Forecast

Life is as unpredictable as the weather. We’d love to help you prepare.

Ways to Supplement Your Medicare Coverage

Ways to Supplement Your Medicare Coverage

There are numerous ways to supplement your Medicare insurance coverage. This article helps you explore your options.

Protecting Those Who Matter Most

Protecting Those Who Matter Most

The importance of life insurance, how it works, and how much coverage you need.