Legal risk

{
  "id": "MLC-T-INS-001984",
  "term": "Legal risk",
  "field": "Insurance and risk management",
  "definition": "The potential for financial loss or damage arising from legal and regulatory actions, non-compliance with laws, or contractual disputes. This risk encompasses litigation, fines, penalties, and adverse judgments that can impact an organization's operations and reputation. Effective risk management involves identifying, assessing, and mitigating legal exposures through compliance programs and appropriate insurance.",
  "url": "https://mlchart.com/terminology/insurance/legal-risk/"
}