‘The process by which organisations assess, control, exploit, finance and monitor risks from all sources for the purpose of increasing the organisations short and long term value to shareholder’ (Casualty Association). It combines a whole range of financial risks with insurance risks and seeks to optimise the manner of its risk taking.

General commercial and business risk that is usually accepted as a part of the firm’s normal operations in the market place. Profit is the reward for entrepreneurial risks.

Theft insurances cover loss by ‘entry’ when it is by forcible and violent means. Actual entry means the insertion of any part of the body, even if it is only a finger, into the premises, but the qualifying words preclude claims when people enter without having to break down the defences of the premises.