There are different kinds of risk, which can be grouped into four categories:
– Legal risk (control) consisting in changing the rules (laws, decrees, etc.) of a country, affecting the terms of the contract.
– Operational risk (of failure) that is the emergence of direct or indirect incidents that affect or will affect the payment of the debt. Although it could be considered from a negative approach, any change has positive effects but from the perspective of a whole could be more important the negative approach.
There are three different ways of managing financial risk: the insurance contract, the proactive management of assets and liabilities, and making investments in hedge (or hedging). All are complementary.