In Property and Casualty Insurance, risk refers to a peril (e.g., fire, wind storm or auto collision). People view investment risk in many ways which can involve a number of different factors. Good financial planning involves both understanding different types of risk and taking steps to reduce the effects of these risks. There are several types of investment risks that should be considered in any investment. These are as follows: Call Risk, Capital Risk, Credit Risk, Default Risk, Inflationary Risk, Interest Rate Risk, Legislative Risk, Liquidity Risk, Market Risk, Selection Risk, and Timing Risk.

The property being insured or reinsured.

The peril being covered (e.g. fire department risks).

The physical units of property insured or the physical units of property at risk. Contrast with Peril and Hazard.

Refers to the person or object to be covered by insurance.

It is the subject of insurance, e.g. the property insured. Risk may also refer to the peril insured against, e.g. fire.

A term used to designate an insured or a peril insured against.

a) a situation which cannot be controlled or perfectly foreseen b) the subject matter of an insurance contract.

Literally that which is being insured against - e.g. theft, accidental damage.