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| Risktechnik |
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An insurable risk is a risk that meets the ideal criteria for efficient insurance. The concept of insurable risk underlies nearly all insurance decisions. Let's use automobile insurance as an example of insurable risk. If you take out one of the above 6 parameters, auto insurance probably wouldn't exist. For example, having a vehicle totaled may be catastrophic (parameter 3) for some people in the insurance pool but overall it isn't catastrophic to the population of insureds as a whole. Hence, it is insurable risk.
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