Question

State the main elements of insurable risk.​

Answer 1

Answer:

Most insurance providers only cover pure risks, or those risks that embody most or all of the main elements of insurable risk. These elements are "due to chance," definiteness and measurability, statistical predictability, lack of catastrophic exposure, random selection, and large loss exposure.

Answer 2

7 elements of an insurable risk are;

•Large numbers of exposure units.

•Define and measurable loss.

•Determinable probability distribution.

•Calculable chance of loss.

•Fortuitous loss.

•Non-catastrophic loss.

•Premium should be economically feasible.

Mark me a brainlist answer