Noninsurance Risk

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Noninsurance Risk

The risk of loss from not having an insurance policy. For example, if one does not purchase health insurance, one carries the noninsurance risk that an injury will leave one unable to pay one's medical bills.
References in periodicals archive ?
Principle 4 underlying the ICS refers to "all material risks of IAIGs' portfolios of activities taking into account assets, liabilities, non-insurance risks and off-balance sheet activities.
However, in exchange, investors generally require the sponsor to maintain the risk of ongoing administration, certain other non-insurance risks such as lawsuits targeting inappropriate sales, large policies and asset-management responsibilities.
Instead, they want to highlight the dynamic role actuaries play in modeling insurance and non-insurance risks and the mathematical precision and discipline they bring to anticipating and managing future risks.
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