Insurable Risk

Definition :

Insurable risk is possible loss or damage that must be accidental, explained plainly, or a significant hardship in order to be insured. It also must be definable and similar to a large number of known exposures. An insurer must be able to calculate the probability of a loss and reasonal cost for the insurance.

Leave a Reply

Your email address will not be published. Required fields are marked *

two × 1 =