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We face a lot of risks in our daily lives
By admin | May 1, 2008
We face a lot of risks in our daily lives. Some of these risks are manageable and we can afford a protection against them. Some, however, cannot be managed and thus we have no option but to face these risks as and when they occur. The risks which we can manage are called diversifiable risk and the others are called not diversifiable risks. The diversifiable risks are best managed by affording a protection against these risks. Some of the ways of protection against these risks, which can be managed, are insurance and prevention of the happening of the risk. We cannot always prevent a certain risk from taking place. Hence the only way left with us to manage the particular risk is insurance.
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