Which type of risk presents a chance of loss but no opportunity for gain?

The concept of pure risk is characterized by situations that entail only the possibility of loss or no loss, with no potential for financial gain. This type of risk typically manifests in situations such as the risk of natural disasters, accidents, or illnesses, where the events are not under the control of an individual and result in a complete loss or no change at all.

In contrast, speculative risk includes scenarios where there is an opportunity for both gain and loss, such as investing in the stock market or starting a business. Insurance risk pertains more to the likelihood of claims being made against an insurance policy, whereas investment risk involves the volatility associated with different financial ventures and the potential for loss or profit. Hence, these other types of risks do not fit the definition of being purely a risk of loss without the chance for gain, making pure risk the correct identification in this scenario.