Classification of Risks in our Daily Life

Risks are classified into various types based on the damage to be caused. If we understand this then we can know when to take the insurance for our assests and for our lives:

Risks are classified in various ways:-

Critical or Catastrophic risks

Financial or Non-Financial risks

Dynamic and Static risks

Fundamental risks

Pure and Speculative risks

If you have and queries or doubts please leave your valuable comments on this post.