can some one discuss risk is every where for me?

Question

in insurance

Answer 1

Insurance is about managing risk. Risks faced by your average risk can be broken down into three categories: Personal risk (Risk associated with loss of one's own life or health); Property risk (Risk of loss of property); Liability risk (When one's negligent actions result in injury or property damage to others). You can choose to deal with risk in the following ways: 1. Avoid the risk. In this fashion, one either avoids the risk (i.e. rent an apartment rather than own a home to avoid the risks that are associated with property ownership), however this just replaces one type of risk with another (being financially responsible to the property owner instead, or avoiding the venture altogether (live with your parents forever and neither renting/owning) thereby avoiding risk altogether. then again as the old saying goes, nothing ventured nothing gained (like independance!). 2. Control risk. Take measures to reduce frequency and severity of losses, such as installing alarms, sprinkler systems, no-skid flooring, etc. These measures are not an absolute solution as equipment can fail. 3. Retain risk. Very large corporations and most levels of government (municipal usually no) will assume financial responsibility for their own losses and for the losses of others caused by actions they are responsible for. This option is usually less expensive than other options, however this option is not feasible for individuals (maybe Bill Gates). 4. Transfer risk. In exchange for a consideration (almost always a premium), a company, group of companies or a group of individuals agree to assume the financial responsibilty of others.
Risk can be one of two types: 1. Speculative risk. This is the type of risk where there is a chance of loss or gain. The most recognizable example is gambling. These types of risks are uninsurable. 2. Pure risk. This is the type of risk where there is chance of loss only (no opportunity for profit from a loss exists). Only this type of risk in insurable.

Answer 2

Huh?

Answer 3

I don't understand what it is you are looking for.