Definition: A risk that conforms to the norms and specifications of the insurance policy in such a way that the criterion for insurance is fulfilled is called insurable risk.
Description: There are various essential conditions that need to be fulfilled before acceptance of insurability of any risk. In case of a scenario where the loss is too huge that no insurer would want to pay for it, the risk is said to be uninsurable.
A risk may not be termed as insurable if it is immeasurable, very large, certain or not definable.
Also See: Insurance, Guaranteed Survival Benefit, Guaranteed Surrender Value, Insurability
