Term Set 1
the risk that a venture will be economically unsustainable
Economic risk
Controllable risk factors are those which you can take steps to change or influence. Diet. Smoking. Excessive alcohol consumption. Inactivity.
Controllable risk
a policyholders request for payment for a loss that the insurance policy covers
a few companies that are authorized to come together and act as a single entity
corporation
a sum of money paid regularly by a company to its shareholders out of its profits
dividends
anything that exposes you to the risk of losing something of value
Personal Risk
a company that agrees to take on certain economic risks and to pay for losses if they occur
Insurers
a summary on what you plan to accomplish as a company
Mission statement
a single business entity that will become very popular worldwide or nationwide
franchise
people who expect a lot from themselves
self-demand
to risk events that specifically impact an organization's facilities and other physical infrastructure
Property risk
the person or business for which the insurer assumes the risk
Insured
a document setting out a business's future objectives and strategies for achieving them
executive summary
the amount of money you make per year
salaries
willing to put in time and effort to educate themselves on marketing
self-confident
a vulnerability that can cause a party to be held responsible for certain types of losses
Liability risk
a policy stating the conditions to which the insurance company and the policy-holder have agreed
Insurance Policy
right of holding a business or holding property
proprietorship
a fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee
wages
using practical methods which involve doing things to deal with problems
action oriented
a category of risk that cannot be controlled and has two outcomes: complete loss or no loss at all
Pure risk
the amount a policyholder must pay for insurance coverage
Premium
two alliances come together
partnership
money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
interest
positive, energized, or at a motivated state
enthusiastic