Critical or Catastrophic risks, Financial and Non-Financial Risks

Let us have a close view about Critical or Catastrophic risks, Financial and Non-Financial Risks:

Critical or Catastrophic risks are those which may lead to the bankruptcy of the owner. It would happen if this total, like in tsunami, wiping out everything. It can also happen if the deceased person was heavily in debt. Important risks may bot spell doom, but may upset family or business finances bdaly, requiring a lot time to recover. The adverse effects of an economic recession is one such. Less damaging are Unimportant risks, life temporary illness or accidents.

Finalcial and Non-Financial Risks:

Insurance is concerned only with financial risks

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