"Risk is subjective" until damages occur to someone and it's time to file an insurance claim.
If there is something you don't believe is a risk, who are going to file a claim with? Normally insurers expect you to arrange insurance beforehand, which requires identifying something you believe is a risk.
Yes, that’s the exact definition of subjective
If there is something you don't believe is a risk, who are going to file a claim with? Normally insurers expect you to arrange insurance beforehand, which requires identifying something you believe is a risk.