All posts by Vidya Gaur - 58. page

Professional Tax Consultant and Article Writer

Subjective Risk : Subjective risk is defined as uncertainty based on a person’s mental condition or state of mind. For example, assume that an individual is drinking heavily in a bar […]

Peril : We often use the word risk to mean both the event which will give rise to some loss, and the factors which may influence the outcome of a loss. […]

Physical hazard : Physical hazard relates to the physical characteristics of the risk, such as the nature of construction of a building, security protection at a shop or factory, or the […]

Moral hazard : Moral hazard concerns the human aspects which may influence the outcome. Moral hazard is dishonesty or character defects in an individual that increase the chance of loss. For […]

Morale hazard : This usually refers to the attitude of the insured person. Morale hazard is defined as carelessness or indifference to a loss because of the existence of insurance. The […]

UNCERTAINTY : Uncertainty is at the very core of the concept of risk itself. It is uncertainty about the outcome in a given situation. Uncertainty does not exist in the natural […]

WHAT IS RISK : Risk is part of every human endeavor. From the moment we get up in the morning, drive or take public transportation to get to school or to […]