GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Risks for which it is difficult for someone to get insurance is called ____
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Pure Risk
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Partial Risk
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Covariant Risk
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Uninsurable Risk
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Explanation:
Detailed explanation-1: -Uninsurable risk is a condition that poses an unknowable or unacceptable risk of loss or a situation in which the insurance would be against the law. Insurance companies limit their losses by not taking on certain risks that are very likely to result in a loss.
Detailed explanation-2: -There are five things that insurance companies consider almost completely uninsurable: reputational risk, regulatory risk, trade secret risk, political risk, and pandemic risk.
Detailed explanation-3: -#1 – Pure Risk. #2 – Speculative Risk. #3 – Financial Risk. #4 – Non-Financial Risk. #5 – Particular Risk. #6 – Fundamental Risk. #7 – Static Risk. #8 – Dynamic Risk.
There is 1 question to complete.