I can describe types of risk Andrea

Types of risk and how to handle risk

Definitions

1)Risk-The possibility of incurring a loss.

2)Economic Risk-A type of risk that results in financial loss

3)Non-Economic Risk-A type of risk that may result in the embarrassment or inconvenience without financial impact.

4)Pure Risk-A type of risk that is a threat of a loss without an opportunity for gain.

5)Speculative Risk-A type of risk that offers the chance to experience gain or loss.

6)Controllable Risk-A type of risk that occurs when conditions can be controlled to lessen the chance of harm.

7)Uncontrollable Risk-A type of risk that cannot be controlled or reduced by actions.

8)Insurable Risk-A type of risk that meets the criteria of an insurance company for coverage.

9)Uninsurable Risk-A type of risk that the possible amount of loss is simply upredictable.

Examples

Risk- car

Economic Risk- cash in the world

Non-Economic Risk- that cash is good in the world

Pure Risk-having a kid

Speculative Risk- gain or loss so age

Controllable Risk- driving in the car with someone

Uncontrollable Risk- getting a illness

Insurable Risk-a flood

Uninsurable Risk-a house on fire

Ways to Manage Risk in a Business

Mitigate the risk

Avoid the risk

Transfer the risk

Accept the risk