Risk exposure is a term used to describe the potential for harm or loss due to a particular situation. It is often used in the context of insurance, where it refers to the amount of risk that an insurer is exposed to when providing coverage for a particular event. PERIL is another term used to describe the same concept, and is defined as a specific danger or hazard that could lead to harm or loss. Risk exposure and PERIL are both important concepts to consider when assessing the potential risks associated with any given situation.