What term is used to describe risks that are specific to a company or asset?

The term that describes risks that are specific to a company or asset is "property specific risks." This phrase highlights the particular vulnerabilities and uncertainties that affect an individual company or asset, as opposed to risks that impact the market as a whole or broader economic factors.

Property specific risks can arise from various factors unique to the company, such as management decisions, product recalls, competitive actions, and regulatory changes. These risks are also often referred to as unsystematic risks, which can be mitigated through diversification in an investment portfolio.

Market risks pertain to the overall market's movements and affect all companies and assets within it, while systematic risks encompass broader economic conditions. General economic risks address large-scale economic conditions impacting many industries, rather than the unique challenges facing a single entity. Therefore, "property specific risks" accurately identifies risks that are exclusive to a particular company or asset.