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Insurable risk

Index Insurable risk

An insurable risk is a risk that meets the ideal criteria for efficient insurance. [1]

4 relations: Adverse selection, Extended coverage, Insurance, Risk management.

Adverse selection

Adverse selection is a term commonly used in economics, insurance, and risk management that describes a situation where market participation is affected by asymmetric information.

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Extended coverage

Extended coverage is a term used in the property insurance business.

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Insurance

Insurance is a means of protection from financial loss.

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Risk management

Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinator and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

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References

[1] https://en.wikipedia.org/wiki/Insurable_risk

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