What does Risk Types mean? Read on to discover the definition & meaning of the term Risk Types - to help you better understand the language used in insurance policies.
A number of different ways in which risks are categorized. A few categories that are commonly used are market risk, credit risk, operational risk, strategic risk, liquidity risk, and event risk.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Risk Types. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: