Distinguish between the following: 3. Insurable risk and non-insurable risk

Distinguish between the following:

3. Insurable risk and non-insurable risk


Insurable risk
Non-insurable risk
It refers to the risk that is insured by various insurance companies.
It refers to the risk that is not insured by any insurance company.
This includes risks against fire, risks against sea perils etc.
This includes risks arising out of changes in government policies, changes in the demand for a product etc.

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