Insurable Risk
Plain English Definition: A risk that can be covered by an insurance policy.
What Insurable Risk really means for someone with an insurance policy
Insurable risks are those that meet insurance company criteria for coverage, such as being financially significant and statistically predictable.
Insurable Risk Real World Examples
- Home insurance covering damage from storms and fire.
- Auto insurance for collisions and theft.
- Life insurance for policyholder death, ensuring beneficiary support.