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Absolute risk (or AR) is the probability or chance of an event.It is usually used for the number of events (such as a disease) that occurred in a group, divided by the number of people in that group.
Risk of loss is a term used in the law of contracts to determine which party should bear the burden of risk for damage occurring to goods after the sale has been completed, but before delivery has occurred.
Risk management is the identification, evaluation, and prioritization of risks, [1] followed by the minimization, monitoring, and control of the impact or probability of those risks occurring. [2]
The risk premium is used extensively in finance in areas such as asset pricing, portfolio allocation and risk management. [2] Two fundamental aspects of finance, being equity and debt instruments, require the use and interpretation of associated risk premiums with the inputs for each explained below:
Anarâškielâ; العربية; Asturianu; Azərbaycanca; Беларуская; Bikol Central; Български; Català; Čeština; Cymraeg; Dansk; Davvisámegiella
A deductible should not be confused with a franchise. A deductible represents a part of the expense for which the insurer is not liable, but the franchise is a pure threshold beyond which liability for the entire expense is transferred to the insurer.
A diagram of an aquaplaning tire Two vehicles aquaplaning through large puddles on the road's surface. Aquaplaning or hydroplaning by the tires of a road vehicle, aircraft or other wheeled vehicle occurs when a layer of water builds between the wheels of the vehicle and the road surface, leading to a loss of traction that prevents the vehicle from responding to control inputs.