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 ?
based LL Johns & Associates, an aviation broker, said the event could prove to be uninsurable going forward.
Hundreds of thousands of homes could become uninsurable and unmortgageable if the Government cuts spending on flood defences, it has been warned.
States have been using single-state risk pools to provide subsidized coverage for uninsurable residents for decades.
Though nuclear generating stations are often viewed as virtually uninsurable, those who regularly write and place nuclear risks paint a very different picture: that of a remarkably stable market with few claims and steady profits.
The alternative is a time-bomb of thousands of uninsurable homes in the North East under constant risk of flooding.
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.
Russell, 1997, "Catastrophe Insurance, Capital-Markets, and Uninsurable Risks", Journal of Risk and Insurance, 64:205-230
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.