Question

The differences between uninsurable and insurable risks

Answer 1

Uninsurable risk is one where the insurance company cannot calculate the probability of the risk occurring which can happen due to numerous reasons. An insurable risk is one where the calculations can be made and the premium that gets paid is determined.

Answer 2

Difference between uninsurable and insurable risks

Answer: The difference is the following: a risk is uninsurable when the insurance company cannot calculate the probability of the risk. On the other hand a risk is insurable if the insurance company has enough statistics to work out the probability of the risk.

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