Risk

{
  "id": "MLC-T-INS-002960",
  "term": "Risk",
  "field": "Insurance and risk management",
  "definition": "The effect of uncertainty on objectives, characterized by the potential for events to have a negative impact. In insurance, risk is the chance of a loss occurring, which can be transferred from an individual or entity to an insurer in exchange for a premium. For a risk to be insurable, the potential loss must be definable, accidental, and large enough to cause hardship.",
  "url": "https://mlchart.com/terminology/insurance/risk/"
}