Personal lines insurance covers individuals against loss resulting from death, injury, or loss of property. Personal insurance lines make it possible to do things such as driving a car and owning a home without risking financial ruin. Coverage generally depends on how much an individual is willing to pay in premiums
Personal insurance definition is - insurance of human life values against the risks of death, injury, illness or against expenses incidental to the latter.
The risk management process is a framework for the actions that need to be taken.
- Step 1: Identify the Risk
- Step 2: Analyze the Risk
- Step 3: Evaluate or Rank the Risk
- Step 4: Treat the Risk
- Step 5: Monitor and Review the Risk
Financial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default.
Often it is understood to include only downside risk, meaning the potential for financial loss and uncertainty about its extent.
Financial risk is the possibility of losing money on an investment or business venture. Some more common and distinct financial risks include credit risk, liquidity risk, and operational risk.