Risk, per Rupp Insurance Glossary

The possibility or chance of loss or injury; the property or person exposed to damage or injury; an insurance company's uncertainty regarding the ultimate amount of any claim payment (underwriting risk) or uncertainty regarding the timing of claim payment

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To begin a discussion on risk taking, let’s look at various definitions of risk. While each of us has a utilitarian definition that we use in daily conversation, we should be sufficiently precise that the admonition to ‘take more risks’ carries a general

One industry steeped in risk assessment is the insurance industry.