Tuesday, April 18, 2017

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What Is Pure or Static Risk In Insurance

What Is Pure or Static Risk In Insurance

Pure or Static Risk Definition And Meaning

Insurance
[Post Image Courtesy of David Castillo Dominici at FreeDigitalPhotos.net]

The second category of risk is known as pure or static risk. Pure (static) risk is a situation in which there are only the possibilities of loss or no loss, as oppose to loss or profit with speculative risk. The only outcome of pure risks are adverse (in a loss) or neutral (with no loss), never beneficial. Examples of pure risks include premature death, occupational disability, catastrophic medical expenses, and damage to property due to fire, lightning, or flood.

Insurance Law And Practice - ICSI

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