Legal Definition and Related Resources of Risk

hazard , danger , peril , exposure to loss, injury , disadvantage or destruction, and comprises all elements of danger. Knox Jewelry Co. Inc. v Cincinnati Ins. Co., 203 S.E.2d 739, 130 Ga.App. 519. In insurance law, it denotes that specified contingency or peril contemplated in the policy of insurance and against which coverage is provided in the policy.

In insurance law. The event insured against. Not the danger, but the circumstances which give rise to it. 1 Hurlst. & N. 334.

Typically defined as the standard deviation of the return on total investment. Degree of uncertainty of return on an asset.

The likelihood that a child will be maltreated in the future.

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For a health insurance company, risk is the chance of loss, the degree of probability of loss or the amount of possible loss. For an individual, risk represents such probabilities as the likelihood of surgical complications, medications’ side effects, exposure to infection, or the chance of suffering a medical problem because of a lifestyle or other choice. For example, an individual increases his or her risk of getting cancer if he or she chooses to smoke cigarettes.

noun

• alea
• bet
• chance
• danger
• discrimen
• endangerment
• exposure
• exposure to harm
• gamble
• gaming
• hazard
• imperilment
• insecurity
• instability
• jeopardy
• periculum
• peril
• plunge
• possibility
• possibility of injury
• possibility of loss
• precariousness
• speculation
• stake
• uncertainty
• venture
• vulnerability
• wager Associated Concepts: acceptance of risk
• assumption of risk
• extraordinary risk
• forseeable risk
• incurred risk
• insurance risk
• limitation of risk
• mutuality of riskrisk of loss
• shifting of risk
• unreasonable risk foreign phrases: Periculum rei venditae
• nondum traditae
• est emptoris
• The risk of a thing sold
• but not yet delivered
• is the purchaser’s
• Ubipericulum
• ibi et lucrum collocatur
• He who risks a thing
• should receive the profits arising from it
• Cujus est dominium ejus est periculum
• He who has the ownership should bear the risk

Browse or run a search for Risk in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Risk in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Risk in Historical Law in the Encyclopedia of Law.

Search for legal acronyms and/or abbreviations containing Risk in the Legal Abbreviations and Acronyms Dictionary.

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Translate Risk Factor from English to Spanish

Translation of Risk Factor , with examples. More about free online translation into Spanish of Factores de riesgo and other legal terms is available here.

• Factores de riesgo
• Legal English Translation

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This definition of Risk is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.

Vocabularies (Semantic Web Information)

Risk Definition (in the Accounting Vocabulary)

The New York State Society of Certified Public Accountants offers the following definition of Risk in a way that is easy for anybody to understand: Measurable possibility of losing or not gaining value.

Concept of Risk in the context of Real Property

A short definition of Risk: In lending, the chance of being repaid. High risk may result from poor credit, a high loan to value ratio, poor general economic conditions, etc. Generally, the greater the risk, the greater the required return (higher interest rate and points).

is “the probability of harmful consequences, or expected losses (deaths, injuries, property, livelihoods, economic activity disrupted or environment damaged) resulting from interactions between natural or human-induced hazards and vulnerable conditions. Conventionally, r
isk is expressed by the notation Risk = Hazards x Vulnerability.” “Beyond expressing a possibility of physical harm, it is crucial to recognize that risks are inherent and can either exist or be created within social systems. It is important to consider the social contexts in which risks occur and that people therefore do not necessarily share the same perceptions of risk and their underlying causes.” – International Strategy for Disaster Reduction

Concept of Risk in the context of Real Property

A short definition of Risk: In lending, the chance of being repaid. High risk may result from poor credit, a high loan to value ratio, poor general economic conditions, etc. Generally, the greater the risk, the greater the required return (higher interest rate and points).

is “the probability of harmful consequences, or expected losses (deaths, injuries, property, livelihoods, economic activity disrupted or environment damaged) resulting from interactions between natural or human-induced hazards and vulnerable conditions. Conventionally, risk is expressed by the notation Risk = Hazards x Vulnerability.” “Beyond expressing a possibility of physical harm, it is crucial to recognize that risks are inherent and can either exist or be created within social systems. It is important to consider the social contexts in which risks occur and that people therefore do not necessarily share the same perceptions of risk and their underlying causes.” – International Strategy for Disaster Reduction

Concept of Risk

In relation to securing dangerous material (in case of crisis or terrorism) a meaning of risk may be outlined, in general regarding European law, as follows: The probability of adverse effects caused by a hazardous phenomenon or substance in an organism, a population, or an ecological system.[1]

Resources

Notes and References

1. Definition of risk published by the European Commission