The term 'risk' refers to the likelihood of the occurrence of an event that causes an insured loss. When and how such an event happens is uncertain and incidental.
If the insured persons are unable to influence the likelihood of the occurrence of the insured event and the amount of loss, this is considered an objective risk.
The term subjective risk refers to the dangers that depend on the insured persons' behaviour. These are risks whose occurrence and amount of damage can be influenced by the insured persons themselves.