What does Event Risk mean? Read on to discover the definition & meaning of the term Event Risk - to help you better understand the language used in insurance policies.
Risk of loss associated with fortuitous occurrences (e.g., fires, hurricanes, tortuous conduct). Event risk, which is synonymous with pure risk, hazard risk, or insurance risk, presents no chance of gain, only of loss. The perils covered by traditional property-casualty (P&C) insurance products are within the realm of event risk.
We hope the you have a better understanding of the meaning of Event Risk.