The uncertainties of direct and indirect losses to personal or real property due to fire, wind, accident, theft, etc., are called ____________ risks.

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The uncertainties related to losses to personal or real property due to various reasons such as fire, wind, accident, theft, and the like are termed as property risks. Personal risks are associated with human life, health, and well-being, whereas business risks involve financial or operational losses to entities. Liability risks pertain to losses incurred due to legal liabilities, while speculative risks are assumed willingly in the hope of obtaining a favorable outcome but with a possibility of a loss.

The Uncertainties of Direct and Indirect Losses to Personal or Real