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Insurance Definition: INSURABLE RISK

By Compuquotes Team on March 27th, 2008

INSURABLE RISK:

Definition:

  • Risks for which it is relatively easy to get insurance and that meet certain criteria. These include being definable, accidental in nature, and part of a group of similar risks large enough to make losses predictable. The insurance company also must be able to come up with a reasonable price for the insurance.

Information provided by Insurance Information Institute

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