Which type of risk involves instances affecting an individual personally?

Personal risk pertains specifically to instances that directly impact an individual in their personal capacity, often affecting their health, well-being, or even their financial security. This type of risk can manifest in various forms, such as illness, disability, or loss of income due to unforeseen circumstances, leading to potential financial strain.

In contrast, property risk relates more to the potential loss or damage to physical assets owned by an individual or organization, while liability risk focuses on the possibility of legal obligations arising from damage or injury caused to others. Speculative risk encompasses situations where there is a chance for both loss and gain, such as investing in stocks or other financial ventures. Therefore, personal risk is distinct in that it concentrates solely on the personal vulnerabilities and challenges faced by individuals.