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." But what is the definition of "material"?
The survey of more than 1,000 risk managers, C-suite executives and other corporate officers involved in "risk-related functions" found 54% want their risk managers to provide better quantification and analysis on risk management, to "develop a greater understanding of non-insurance risks" and, perhaps most importantly, to become more involved in the company's strategic planning.
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.
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