Financial stability refers to a condition where the financial system operates efficiently, allowing for the smooth functioning of financial markets and institutions, ensuring that they can withstand economic shocks.

Risk management is the process of identifying, assessing, and controlling threats to an organization's capital and earnings. It involves strategies to minimize potential losses and maximize opportunities.

Insurance is a financial product that provides protection against financial loss or risk. It involves the transfer of risk from an individual or business to an insurance company in exchange for premium payments.