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Insurance and non-insulation risks

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When we talk about insurance, we are referring to various forms of risk. Here, buying insurance policies is just a way to share risks with people with similar risks.
However, although some risks can be insured (ie, risk can be guaranteed), some risks cannot be insured according to their nature (ie, non-insurable risks).

Insurable Risk

Insufficient risk is the type of risk that an insurance company provides or underwrites because it can collect, calculate, and estimate possible future losses. Previous statistics are the basis for estimating premiums. It heralds the prospect of loss, but it does not make any profit. Risks can be predicted and measured, such as car insurance, marine insurance, life insurance, etc.

This type of risk is a type of risk that can reduce the chance of occurrence, from existing information that is similar to the frequency of occurrences in the past.

Case 1: [2011年9月] The probability (or chance) of a vehicle accident in 2011 (in the total number of insurance vehicles in the year 2011) can be based on the number of vehicles accidented each year in past years (in vehicle insurance In the total number of years) OK.

Example 2: The probability (or chance) of death of a certain age group of males (or females) in the subsequent year can pass through the number of deaths in each age group in previous years.

Non-insurable risk

Non-insurance risk is the type of risk the insurance company is not prepared to cover, simply because the possible future losses cannot be estimated and calculated. It has the prospect of gains and losses. Risk cannot be predicted and measured.

Example 1: Possibility of declining demand for commodities next year due to changes in consumers "The taste will be difficult to estimate because previous statistics may not be available.

Example 2: [19659007] Due to technological advances, the possibility that current production technologies will become obsolete or outdated next year

Examples of other non-insurance risks are:

1. God's actions: involves natural disasters All of the risks are known as God's actions, for example

a. Earthquakes

b. War

c. Flood

It should be pointed out that the insurer cannot compensate for any God act (above Listed) Any building, property, or life that was insured but lost during the period. In addition, this non-insurability is expanding to issues related to radioactive contamination.

2. Gambling: You cannot guarantee you Loss of gambling game opportunities

3. Loss of profits through competition: You cannot guarantee the chance to win or fail in a game.[1 9659004] 4. Launch of new product: Manufacturers introducing new products cannot ensure the possibility of acceptance of new products because it has not been market tested

5. Due to poor management/ Loss caused by inefficiency: The ability to successfully manage an organization depends on many factors, profit/loss depends on the judicial utilization of these factors, one of which is effective management capabilities.

6. A company's geographical position is not good: A company in a poor area must know that its chance of success is very small. Ensure that this business is an affirmative way of copying insurance companies.

7. Loss of profits due to declining demand: Demand for any product varies with time and other factors, and due to reduced demand, insurance companies will not insure based on expected losses.

] 8. Speculation: This is a venture capital company that provides considerable gains, but it may damage A typical example is the behavior or practice of investing in stocks, real estate, etc., hoping to profit from a rise or fall in market value, but there may be a loss.This cannot be insured because it is considered an insurable risk.

9. Opening new store/office: Opening a new store is considered uninsurable risk. You do not know what will happen in the operation of the new store; it is illogical for insurance companies to accept new stores that are insured for you.

10. Fashion changes: Fashion is an unpredictable trend. Any anticipated fashion change cannot be guaranteed. A fashion company cannot be insured because the components of the fashion company may be outdated at any time.

11. Driver Compensation: You cannot get an insurance policy that is fined for violations on wheels.

However, it should be noted that there is no clear distinction between insurable and insurable risks. In theory, insurance companies should be prepared for insurance if they pay a sufficiently high premium. However, this distinction is useful for practical purposes.

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