Risk Management and Insurance

write a paper, at least 4 pages, summarizing what you have learned. Specifically:
How do you now define risk as opposed to your understanding of risk before taking this course? Give a real life, fictitious, or news/media example.
How do our personal risk profiles affect us and society? How does a personal and/or business risk profile benefit or harm society? You may use your own profile, a fictitious example, or a news/media story etc.
What steps can you, or a business, take to mitigate and manage risk?
What are the costs in monetary and non-monetary terms?
Finally, how can you and/or a business use insurance to mitigate risk?