Explore the definition of risk in insurance, its types, and its critical role in shaping the industry. Learn how insurers assess and manage risk to provide coverage and determine premiums.
Explore the detailed stages of the risk management process, its importance in personal and business contexts, and its integration with strategic objectives.
Explore the characteristics that define insurable risks, examples of insurable and non-insurable risks, and the challenges posed by moral hazard and adverse selection in the Canadian insurance industry.
Explore the multifaceted importance of insurance in economic stability, business continuity, personal financial security, social benefits, innovation, and risk management awareness.