Dear students, this courses about the basic concept of risk and risk related topics. It discusses the fundamental concepts embodied in the term risk, the meaning and nature of risk, its difference with uncertainty and probability, and the different meanings carried by the terms peril, hazard and risk. The chapter concludes with a discussion of the different classes of risk , types of life insurance (whole life , term life &endowment insurance ) and non life insurance (fire , car insurance , ocean insurance , aviation insurance )