Types of Product Risks Part II
Here’s the continuation of the different types of product risks:
Morbidity Risk is the grow of the number of ageing people has big risk of experiencing diseases and disabilities, yet some of them still live longer.
We also have the so-called Pricing Risk. We will never know how the prices of today differ from 20 to 50 years from now. Long term insurance has already dealt with it in the past years or so.
The Reserving Risk is both a constant concern and risk especially for the handlers and regulators in charge in making sure that everything is in good sound and in sufficient levels.