Uninsurable Risk

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Uninsurable Risk

A risk against which one cannot purchase insurance, either because it is very likely to occur or because it would be too expensive to cover if it did. For example, a 118-year-old person may be an uninsurable risk for life insurance because the person is very likely to die before the insurer collects a sufficient amount in premiums. Likewise, one generally cannot insure against nuclear war because, even though nuclear war is unlikely, repairs and medical bills would be prohibitively expensive.
References in periodicals archive ?
The division helps businesses transfer traditionally uninsurable risks to a third-party balance sheet.
Around the industry: March 26, 2015
We are seeking similar opportunities to create value for our customers, and in some cases, for previously uninsurable risks.
Can green be its own reward? Green technology projects can get a financial boost from investment-grade insurance coverage
Nuclear power is a case in point having a raft of hidden subsidies, one of them being its uninsurable risks.
Stop treating the earth like cesspit; Views of the North
Senior management must consider a more comprehensive risk management program to address a wide variety of insurable and uninsurable risks.
Embed your risk management: risk mitigation assessment can be essential at all levels in the supply chain
More than two-thirds of risk managers surveyed say their companies now expect them to assist not only with insurable risks in the supply chain but also with assessing and addressing uninsurable risks.
Breached: outsourcing and global sourcing has meant greater corporate exposure to breaches in the supply chain, but leading risk managers are stepping up to the challenge
In this sense, the infinite-horizon setting, while convenient, may understate the hardship caused by uninsurable risks.
Implications of some alternatives to capital income taxation
Under their simple model, they show that traditional theory holds only when the insurable and uninsurable risks are statistically independent.
A note on insurance coverage in incomplete markets
We all know that there are three categories of insurable risks: insurable, difficult to insure (such as flood and, perhaps, Y2K) and uninsurable risks that do not fit the historic criteria for insurance, such as no snow, temperature fluctuations, swings in currency rates and, particularly, the stock market.
The Shape of Claims to Come?
Any uninsured or uninsurable risks should be quantified and appropriate reserves or other financing arrangements should be established.
Technorisk: who's responsible?
Inform the bank's board of directors of all uninsured or uninsurable risks and the ways in which the risks exceed current company coverage.
LAN and E-mail exposure: the bottom line
The topics covered are (1) insurance and economics, (2) insurance and utility theory, (3) insurance and competitive equilibrum, (4) life insurance, (5) business insurance, (6) household insurance, (7) uninsurable risks, and (8) risk theory and government supervision.
Economics of Insurance
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