Risk: Meaning , Definition of Risk, Chance of loss vs.Risk
Objective and subjective risk
Classification of Risk: Property ,liability and personal risks, Physical ,social and economic risks ,static and dynamic risks ,fundamental and particular risks ,speculative and pure risks, uninsurable and insurable risks.

Hazards and Perils in Insurance: Meaning of perils and hazards .Classification of Hazards: Physical hazards, Occupational hazards, Morale hazards, internal Hazards, Legal Hazards.Perils vs. hazards.

Methods of handling risk: Avoidance, Risk Reduction ,Risk retention, Risk transfer ,combination, Hedging method.
Requirements of an Insurable risk.

Risk Management: Meaning, features of risk management,
Objective-Preloss objective and post loss objective, scope and tools in Risk management.

Risk management process: Identify loss exposure, Analyze the loss exposures, Select appropriate techniques for treating the loss exposures, Implement an monitor the risk management programme. Personal risk management.