What Does Risk Mean?

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What does Risk mean? Read on to discover the definition & meaning of the term Risk - to help you better understand the language used in insurance policies.

Risk

Risk

Risk is the probability that a particular loss will occur. Risk is very relevant for insurance companies because it can determine whether or not they will have to spend money satisfying a claim. Risk is also relevant for policyholders because if they represent a higher risk, then that can mean they may need to pay higher premiums.

We hope the you have a better understanding of the meaning of Risk.

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