The likelihood that an outcome or event will occur.
A chance of loss or no loss, but no chance of gain.
A chance of loss, no loss, or gain.
The risk that customers or other creditors will fail to make promised payments as they come due.
The perceived amount of risk based on an individual's or organization's opinion.
The measurable variation in uncertain outcomes based on facts and data.
A risk that affects only some individuals, businesses, or small groups.
The potential for a major disruption in the function of an entire market or financial system.
Uncertainty about an investment's future value because of potential changes in the market for that type of investment.
The risk that an asset cannot be sold on short notice without incurring a loss.
Risk source (ISO 31000)
Element which alone or in combination has the intrinsic potential to give rise to risk.
The process of making and implementing decisions that will minimize the adverse effects of accidental losses on an organization.
Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs.
A condition that increases the frequency or severity of a loss.
A condition that increases the likelihood that a person will intentionally cause or exaggerate a loss.
Morale hazard (attitudinal hazard)
A condition of carelessness or indifference that increases the frequency or severity of loss.
A tangible characteristic of property, persons, or operations that tends to increase the frequency or severity of loss.
A condition of the legal environment that increases loss frequency or severity.
Property loss exposure
A condition that presents the possibility that a person or an organization will sustain a loss resulting from damage (including destruction, taking, or loss of use) to property in which that person or organization has a financial interest.
Property that has a physical form.
Real property (realty)
Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land.
All tangible or intangible property that is not real property.
Property that has no physical form.
Liability loss exposure
Any condition or situation that presents the possibility of a claim alleging legal responsibility of a person or business for injury or damage suffered by another party.
Personnel loss exposure
A condition that presents the possibility of loss caused by a person's death, disability, retirement, or resignation that deprives an organization of the person's special skill or knowledge that the organization cannot readily replace.
Personal loss exposure
Any condition or situation that presents the possibility of a financial loss to an individual or a family by such causes as death, sickness, injury, or unemployment.
Net income loss exposure
A condition that presents the possibility of loss caused by a reduction in net income.
Goals to be accomplished before a loss, involving social responsibility, externally imposed goals, reduction of anxiety, and economy.
Risk management program goals that should be in place in the event of a significant loss.
A conscious act or decision not to act that reduces the frequency and/or severity of losses or makes losses more predictable.
A risk control technique that involves ceasing or never undertaking an activity so that the possibility of a future loss occurring from that activity is eliminated.
A risk control technique that reduces the frequency of a particular loss.
A risk control technique that reduces the severity of a particular loss.
Disaster recovery plan
A plan for backup procedures, emergency response, and post-disaster recovery to ensure that critical resources are available to facilitate the continuity of operations in an emergency situation.
A risk control technique that isolates loss exposures from one another to minimize the adverse effect of a single loss.
A risk control technique that uses backups, spares, or copies of critical property, information, or capabilities and keeps them in reserve.
A risk control technique that spreads loss exposures over numerous projects, products, markets, or regions.
The portion of fire safety that focuses on the minimum building design, construction, operation, and maintenance requirements necessary to assure occupants of a safe exit from the burning portion of the building.
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