Concept information
Preferred term
insurance and risk
Definition
- People think of risk as uncertainty about outcomes. Insurance mainly focuses on negative outcomes, that is, the possibility of suffering a loss (as opposed to the chance of making a gain). [Source: Encyclopedia of Law & Society: American and Global Perspectives; Insurance and Risk]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/insurance_and_risk
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