MANAGEMENT

Detailed explanation-1: -Most pure risks can be divided into three categories: personal risks that affect the income-earning power of the insured person, property risks, and liability risks that cover losses resulting from social interactions. Not all pure risks are covered by private insurers.

Detailed explanation-2: -When we say property insurance, it’s a type of home insurance that provides protection coverage for property owners. Property insurance can help the owner avoid financial losses, which might occur due to damage caused to the property by natural calamities, theft, fire etc.

Detailed explanation-3: -Uninsurable risk is a condition that poses an unknowable or unacceptable risk of loss for an insurance company to cover. An uninsurable risk could include a situation in which insurance is against the law, such as coverage for criminal penalties.