What are particular risks?

Particular risks refer to risks that are localized or personal in nature, affecting specific individuals, organizations, or specific geographical areas rather than having a broad, systemic impact. These risks arise from unique exposures, such as property damage from fire, theft, or personal liability claims, which are specific to an individual or business rather than widespread risks that could impact large populations or industries as a whole.

This understanding contrasts with general risks, which may affect entire industries or the global economy, as indicated in other options. Localized risks are typically manageable through individual risk management approaches, such as insurance coverage tailored to specific circumstances or conditions. Recognizing this specificity is crucial for proper risk management and insurance underwriting, as it allows for targeted strategies to address these risks effectively.