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A war is considered an uninsurable risk because it involves unpredictable and catastrophic events that can lead to widespread destruction and loss, making it difficult to calculate potential losses accurately. Insurance relies on the ability to assess risk and establish premiums based on statistical data; however, wars can have varying causes, durations, and impacts, defying reliable forecasting. Additionally, the scale of potential damages can exceed the financial capacity of insurers, leading to insolvency. Lastly, the moral hazard of insuring against war could encourage reckless behavior or escalation of conflicts.
What else can I help you with?
What risk did a soldier face if she survived being wounded in a civil war battle?
Infection
Would the nation have been willing to risk a civil war over the tariff issue?
No. MLM
Why weren't nuclear weapons used in the Vietnam war?
The US did not want to risk a nuclear confrontation with the communist superpowers.
Why did people go and risk their lives at war?
1. To protect their homeland 2. Earn money 3. To be King?!
How did the military draft cause social problems in the north during the civil war?
The Civil War was extremely unpopular war at the outset. A mandatory draft was considered unnecessary. The risk of death was high. It caused riots and other protests.
What do you know about insurable risk?
uninsurable risk means insuring against something that may happened unexpectedly. uninsurable risk means insuring against something that may happened unexpectedly.
Is risk of loss through an economic depression insurable?
no its uninsurable
What type of risk is not insurable?
Speculative (dynamic) risk is a situation in which either profit OR loss ispossible The outcome of such speculative risk is either beneficial (profitable) or loss. Speculative risk is uninsurable. Hope i helped!
When does the new national health care go into effect for high risk citizens that were supposedly uninsurable?
I believe starting 2014 insurance companies will no longer be able to turn someone down who is high risk, or for a pre-existing condition.
Why is the distinction between insurable and uninsurable risks significant for the theory of profit?
why is the distinction between insurable and uninsurable risks is significant for the theory of profit
What do you understand by the term risk assessment?
Defining the exposure to risk a company, individual, family or other group faces. This would include insurable and uninsurable risks, and would include the degree of risk and possible contributing factors.Answer:To have a careful inspection on the various factors that can bring risks.
What are the uninsurable risks in Nigeria?
Uninsurable risks in Nigeria include political instability, such as civil unrest and terrorism, which can disrupt business operations and lead to significant losses. Additionally, environmental factors like flooding and erosion, exacerbated by climate change, pose risks that insurance may not adequately cover. The prevalence of corruption and inadequate legal frameworks further complicates risk management, making certain economic activities too volatile for insurers. Lastly, health crises, such as outbreaks of diseases, can also result in uninsurable risks due to their unpredictable nature and severe societal impacts.
Is there really a master uninsurable list you can end up on?
Yes, there are master uninsurable lists that certain insurance companies and underwriters use to identify individuals or entities deemed too high-risk for coverage. Being placed on such a list can result from various factors, including repeated claims, fraudulent activity, or a history of high-risk behavior. Once on this list, it can be challenging to obtain insurance, as many companies may refuse to underwrite the individual or entity in question. However, the specifics may vary by industry and region, and not all insurance providers share the same lists.
Why is The peril of war is excluded?
The peril of war is excluded from many insurance policies because it is considered an uninsurable risk due to its unpredictable and catastrophic nature. Insurers typically cannot accurately assess or price the potential losses associated with war, including widespread destruction and loss of life. Additionally, including war-related risks would lead to prohibitively high premiums and could destabilize the insurance market. By excluding this peril, insurers can maintain more stable operations and focus on risks that can be more easily managed and quantified.
What happen if any insurance wont re insure you after many claims?
You have become what is known as an uninsurable risk. Insurance is a statistical game working on the principle that only a proportion of insured events actually happen. But if you are an exception to this because you make regular claims, then you have to be excluded from the game.
Where can you get medical coverage if you are uninsurable in Georgia?
I have several companies that don't ask health questions or care what your past is
How much did a 1948 Plymouth cost in1963?
Depends on so many factors as to be an uninsurable question.
