Which one of the following is not an element of an insurable risk

What are the elements of insurable risk?

Elements of Insurable Risks: A Quick Guide. Most insurance providers only cover pure risks, or those risks that embody most or all of the main elements of insurable risk. These elements are "due to chance," definiteness and measurability, statistical predictability, lack of catastrophic exposure, random selection and large loss exposure.

What is insurable and controlling risk?

insurable risk that is faced by a large number of people and the amount of the loss can be predicted; presents the chance of loss but no opportunity for gain Controllable risk

Are only pure risks are insurable?

Only pure risks are insurable. 0f the following, which is a nonfinancial risk? Risk of your child performing poorly at a school band concert. This type of risk presents a potential for loss or gain. Which of the following classifications of risk is defined as risks specific to individuals, usually managed through insurance?