RISK MANAGAMENT & insurence

5.02 I WILL UDER STAND MANAGAMENT

types of RISK

pure risk-threat or loss with out an opertounaty.speculative risk-offers to gain or loss of a bunisess.insureable risk-unpredcateable amout of loss.

INSURANCE VOCABULARY

VOCABULARY

POLICY-contract between the insurer and insured.PREMUEM-cost of insureance.INSURED-policyholder who buys policys.INSURER-company offering police.