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What (who) is insurable risk - definition

CONCEPT IN INSURANCE

Insurable Interest; Lucena v Craufurd; Insurable interests

uninsurable

CONCEPT IN INSURANCE FINANCE

Insurable risk; Uninsurable; Insurable event

¦ adjective not eligible for insurance cover.

Insurability

CONCEPT IN INSURANCE FINANCE

Insurable risk; Uninsurable; Insurable event

Insurability can mean either whether a particular type of loss (risk) can be insured in theory, or whether a particular client is insurable for by a particular company because of particular circumstance and the quality assigned by an insurance provider pertaining to the risk that a given client would have.

https://en.wikipedia.org/wiki/Insurability

Systematic risk

VULNERABILITY TO SIGNIFICANT EVENTS WHICH AFFECT AGGREGATE OUTCOMES SUCH AS BROAD MARKET RETURNS, TOTAL ECONOMY-WIDE RESOURCE HOLDINGS, OR AGGREGATE INCOME

Aggregate risk; Unsystematic risk

In finance and economics, systematic risk (in economics often called aggregate risk or undiversifiable risk) is vulnerability to events which affect aggregate outcomes such as broad market returns, total economy-wide resource holdings, or aggregate income. In many contexts, events like earthquakes, epidemics and major weather catastrophes pose aggregate risks that affect not only the distribution but also the total amount of resources.

https://en.wikipedia.org/wiki/Systematic_risk

Wikipedia

Insurable interest

Insurable interest exists when an insured person derives a financial or other kind of benefit from the continuous existence, without repairment or damage, of the insured object (or in the case of a person, their continued survival). A person has an insurable interest in something when loss of or damage to that thing would cause the person to suffer a financial or other kind of loss. Normally, insurable interest is established by ownership, possession, or direct relationship. For example, people have insurable interests in their own homes and vehicles, but not in their neighbors' homes and vehicles, and almost certainly not those of strangers.

The "factual expectancy test" and "legal interest test" are the two major concepts of insurable interest.

https://en.wikipedia.org/wiki/Insurable interest