DEFINITIONS AND CLASSIFICATION OF RISKS AND Hazard

1. DEFINITION OF RISK
Risk (English: "Risk") is the center of insurance and therefore
studied in detail before insurance need first to understand the meaning of
risk.

Aside from the center of insurance, risk is also at the center of life
itself so that the notion that risk can be viewed from various aspects of life and
as a result many people put forward about the meaning or definition of risk.
However, in this lesson we define risk as uncertainty of
at a loss (uncertainty of loss).

This simple definition contains two elements, namely:
Uncertainty (uncertainty) and loss (loss).
The term risk (risk) may also in the sense objects or objects subject coverage
matter insured) and disaster / hazard (Perils). Ship, cargo, cars,
buildings and others are some examples of the objects insured.
Hurricanes, earthquakes, floods, theft are some examples of the perils or
disaster / hazard that can cause harm when it occurs.

2. CLASSIFICATION OF RISKS
In the world of insurance in question is the risk, if risk is defined
uncertainty as to incur losses (Uncertainty of loss), which
daIam sense here meant financial losses (financial risk), where losses
can be assessed in financial or monetary value.
Risks can be classified as follows:

2. 1 Speculative Risks (Speculative Risk)

Speculative risk is the risk that gives the possibility
profit (gain) or loss (loss) or no profit and no loss (break
event). Speculative risk is also called dynamic risk (dynamic risk).
Example:
- Risk in world trade (the possibility of profit or loss)

To be continued ...