Uninsurable


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Related to Uninsurable: Uninsurable Risk

Uninsurable

Describing a person or event for which no insurance company will provide coverage. Someone or something may be uninsurable because the cost of protection is too high or because there is too great a risk of an insured event occurring. An example of the former is a nuclear blast while an example of the latter is the impending death of a person who is 110 years old. Thus, a life insurance policy is unlikely to cover death from a nuclear event and probably will not be sold to a super-centenarian in the first place.
References in periodicals archive ?
Hundreds of thousands of homes could become uninsurable and unmortgageable if the Government cuts spending on flood defences, it has been warned.
The alternative is a time-bomb of thousands of uninsurable homes in the West Midlands under constant risk of flooding.
That contrasts favourably with the situation at Worcester - also adjacent to a river but so prone to flooding it is uninsurable - where 12 fixtures have had to be abandoned due to the monsoon-like weather that first hit Britain in mid-June.
Romero was uninsurable,'' Petrullo said in a letter he sent to the West Hills baseball community.
For example, if a company believes it will have uninsurable collateral losses equal to 20% of the amount it recovers from its insurance policy, it can purchase a Transurance policy that pays 20% of the amount that its insurance policy pays to create a budget for collateral losses.
1) In 29 States (as of July 2002), these high-risk, uninsurable individuals are eligible for coverage under special State programs known as comprehensive health insurance plans for high-risk individuals (high-risk pools).
No matter how much I paid for a premium, I was simply uninsurable," said Clarenbach, noting that his monthly pharmacy bill alone is around $3,000, while doctors' visits and tests ran an additional $1,500.
However, an insurance scheme is organised to deal with high cost but low probability health care needs, and so high probability events may be uninsurable and not included in the range of services.
A less obvious example, however, is that a term insurance policy's FMV will be greater than zero if the insured is diagnosed with a serious illness or other health problem that makes iron or her uninsurable or highly rated, even though the policy has no CSV with the insurance company.
Many times in the course of designing a business continuation plan, it develops that one of the partners or stockholders is either uninsurable or heavily rated.
The ship was uninsurable, the crew's qualifications were iffy, and the Gulf of Honduras is shallow and treacherous.
We have asked for insurance cover on this particular point from our brokers and we have been told it is uninsurable.