liability vs risk

liability

noun
  • The likelihood of something happening. 

  • A handicap that holds something back, a drawback, someone or something that is a burden to whoever is required to take care of them; an individual or action that exposes others to greater risk. 

  • Any item recorded on the right-hand side of a balance sheet. 

  • The condition of being susceptible to something. 

  • An obligation, debt or responsibility owed to someone. 

  • A person on a team that is more of a hindrance than a help. 

risk

noun
  • A thing (from the perspective of how likely or unlikely it is to cause an adverse effect). 

  • A possible adverse event or outcome. 

  • A borrower (such as a mortgage-holder or person with a credit card). 

  • An entity insured by an insurer. 

  • The potential negative effect of an event, determined by multiplying the likelihood of the event occurring with its magnitude should it occur. 

  • The magnitude of possible loss consequent to a decision or event. 

  • The probability of a negative outcome to a decision or event. 

  • A type of adverse event covered under an insurance policy. 

  • A financial product (typically an investment). 

verb
  • To incur risk as a result of (doing something). 

  • To incur risk of harming or jeopardizing. 

  • To incur risk of (something). 

How often have the words liability and risk occurred in a corpus of books? (source: Google Ngram Viewer )