What does Non-insurable Risk mean? Read on to discover the definition & meaning of the term Non-insurable Risk - to help you better understand the language used in insurance policies.
A non-insurable risk is a risk an insurance company deems too hazardous or financially impractical to take on. It can also refer to risks that are illegal for an insurance company to assume. By not taking them on, insurers can curb losses, as non-insurable risks usually have extremely high probabilities of loss for the insurance company.
We hope the you have a better understanding of the meaning of Non-insurable Risk.