Subjective Risk Definition And Meaning
What is Subjective Risk
Subjective risk is defined as uncertainty based on a person's mental condition or state of mind. For example, assume that an individual is drinking heavily in a bar and attempts to drive home after the bar closes. The driver may be uncertain whether he or she will arrive home safely without being arrested by the police for drunken driving. This mental uncertainty is called subjective risk.
What is Subjective Risk
[Post Image Courtesy of Stuart Miles at FreeDigitalPhotos.net]
Subjective risk is defined as uncertainty based on a person's mental condition or state of mind. For example, assume that an individual is drinking heavily in a bar and attempts to drive home after the bar closes. The driver may be uncertain whether he or she will arrive home safely without being arrested by the police for drunken driving. This mental uncertainty is called subjective risk.
Insurance Law And Practice - ICSI
Subjective Risk Definition And Meaning
![Subjective Risk Definition And Meaning]()
Reviewed by Blog Editor
on
Monday, April 24, 2017
Rating:
Posts
No comments:
Do you have any reasonable comments for this post ? Please feel free to drop them below using the comment box. We will moderate and publish them as soon as possible. Cheers !