MLchartDataset catalogue

Value of risk (VOR)

Term · Insurance and risk management · MLC-T-INS-003458

A quantitative measure representing the potential financial impact of an identified risk event on an organization or project. It combines the probability of a risk occurring with the magnitude of its potential consequences, often expressed as an expected loss. This metric is used in risk management to prioritize risks and allocate resources for mitigation strategies, such as insurance purchasing or control implementation.

Table 1. Record
IdentifierMLC-T-INS-003458
FieldInsurance and risk management
AbbreviationVOR
Record as JSON 
{
  "id": "MLC-T-INS-003458",
  "term": "Value of risk (VOR)",
  "field": "Insurance and risk management",
  "definition": "A quantitative measure representing the potential financial impact of an identified risk event on an organization or project. It combines the probability of a risk occurring with the magnitude of its potential consequences, often expressed as an expected loss. This metric is used in risk management to prioritize risks and allocate resources for mitigation strategies, such as insurance purchasing or control implementation.",
  "abbreviation": "VOR",
  "url": "https://mlchart.com/terminology/insurance/value-of-risk-vor/"
}

Record 3,600 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.