Page 6 - Insurance Glossary 100 Terms - Sashi Publications

Comprehensive Insurance: Covers own

damage and third-party liability.

Control Risk: The risk that internal controls

will not prevent or detect errors or fraud.

Control Self-Assessment (CSA): A process

whereby internal stakeholders assess the

effectiveness of controls and identify risks.

Credit Risk: The risk of loss due to a

borrower's failure to repay a loan or meet

contractual obligations.