Acceptable Risk Law and Legal Definition

Acceptable risk refers to the level of human and property loss that can be tolerated by an individual, household, group, organization, community, region, state, or nation. For instance, the risk of flooding can be accepted once every 500 years but it is not unacceptable in every ten years. In other words it means those risks whose benefits are so great, that individuals or groups in society are willing to take or be subjected to the risk. It is usually calculated in actions taken to minimize disaster risk. The probability of occurrence of an acceptable risk is small. The concept of acceptable risk evolved partly from the understanding that absolute safety is generally an unachievable goal, and that even very low exposures to certain toxic substances may confer some level of risk.