The term "pure risk" refers to:

The term "pure risk" specifically refers to a risk that can only result in a loss or no loss, with no potential for financial gain. This type of risk is often associated with events such as natural disasters, accidents, or illnesses, where the only possible outcomes are negative, such as damage to property, financial hardship due to medical expenses, or loss of life.

Understanding pure risk is vital in insurance and risk management because it helps in assessing which risks can be insured and how to appropriately hedge against them. In contrast, the other options describe risks that may include opportunities for gain—such as investment risks or speculative risks—where outcomes can be both positive and negative. This differentiates pure risk from risks that involve a chance for profit or gain in any form, which are not classified as pure risk.