Dictionary of Business Terms: insurable risk
insurable risk
risk situation meeting an insurance company's standards in that it: (1) is measurable; (2) is accidental; (3) meets a standard classification; and (4) has a premium proportional to a possible loss.
Dictionary of Insurance Terms: insurable risk
insurable risk
condition in which an applicant has met an insurance company's standards. Requirements include a loss that is (1) definable; (2) fortuitous; (3) one of a large number of homogeneous exposures; and (4) carries a premium reasonable in relation to a potential loss.
