A risk that is not beneficial to the insurer, as loss is the only foreseeable outcome.
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A situation where unknown future outcomes involve only losses. Contrast with “Speculative Risk.”
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Pure risks are events the occurrence of which results in either loss to the individual or organization concerned. Pure risk holds out no prospect of gain which is what distinguishes it from speculative risk, where the prospect of either gain or loss exists.
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MEDICAL,USA: Situation that involves a chance of a loss or no loss, with no chance of gain.
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The only consideration is the possibility of loss or no loss but not making a profit. Contrast with Speculative risk.
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The uncertainty of a peril that can produce only a loss, should the event occur.
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UK:Uncertainty as to whether a loss will occur. With a pure risk there is no possibility of gain; the outcome is loss or no change. Such risks are static and inherent in the environment, e.g. fire, but can be minimised by risk management. Compare with speculative risk.