What are the risk that Cannot be insured?
An uninsurable risk could include a situation in which insurance is against the law, such as coverage for criminal penalties. An uninsurable risk can be an event that's too likely to occur, such as a hurricane or flood, in an area where those disasters are frequent.
What are the 4 types of risk in insurance?
Risk Types — a number of different ways in which risks are categorized. A few categories that are commonly used are market risk, credit risk, operational risk, strategic risk, liquidity risk, and event risk.
Why are all risks not insurable?
However, no insurance company will cover every risk. Some losses are simply impossible to value or too costly, too probable, or too susceptible to manipulation. These are known as uninsurable risks.
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- which of the following risks may not be insured by a non-admitted company
- which risks cannot be insured
- what type of risk cannot be insured