A possible adverse event or outcome
The probability of a negative outcome to a decision or event.
2006, Trever Ramsey on BBC News website, Exercise 'cuts skin cancer risk' read at http//news.bbc.co.uk/1/hi/health/4764535.stm on 14 May 2006
The magnitude of possible loss consequent to a decision or event.
(formal use in business, engineering, etc.) The potential (conventionally negative) effect of an event, determined by combining the likelihood of the event occurring with the effect should it occur.
An entity insured by an insurer or the specific uncertain events that the insurer underwrites.