I can describe types of risk Andrea
Types of risk and how to handle risk
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.
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