Commentary Key concepts and definitions Section 2: “Risk”
21.Subsection (1) defines “risk”. This is a component of the concept of flood and coastal erosion risk management. Risk is defined so that it relates to both the probability of an occurrence and the seriousness of its consequences.
22.Subsection (2) and (3) define “flood risk” and “coastal erosion risk”.
23.Subsection (4) sets out examples (not an exhaustive list) of potential harmful consequences that should be considered when assessing risk.