Which type of risk is defined as a situation where a person can either lose or have no change?

Pure risk is defined as a situation where there is a chance of loss or no change, but no opportunity for gain. This type of risk encompasses situations where losses are possible, such as damage to property or liability claims, but there is no potential for profit or benefit. In pure risk scenarios, the outcomes typically result in either a negative event occurring (such as a loss) or the status quo remaining unchanged.

This contrasts with speculative risk, which includes scenarios where there is both a chance of loss and an opportunity for gain, such as investing in stock. Business risk and operational risk are also distinct; business risk refers to the potential for financial loss as a result of market fluctuations, while operational risk pertains to losses from failed internal processes, systems, or external events. However, neither of these categories specifically limits outcomes to losing or having no shift in status. Therefore, pure risk aptly encompasses the definition provided in the question.