Definition of "Risk philosophy"

Stacy  Teems real estate agent

Written by

Stacy Teemselite badge icon

EXP Realty LLC

Personal view regarding how losses occur and the validity of loss prevention and reduction; also, whether an individual is a risk taker or a risk avoider. For example, if a driver takes the view that dying in a serious automobile accident is inevitable, then use of seat belts is unnecessary. On the other hand, a driver's philosophy may be that wearing a seat belt will minimize injury and reduce the chance of dying in an accident.

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