uninsurable

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uninsurable

Health insurance A high-risk person without health care coverage through private insurance who falls outside the parameters of risks of standard health underwriting practices. See Underwriting.
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In this context, what appears as uninsurability may, in fact, be nothing more than a reflection of strategic behavior emanating either from the supply side or the demand side, or both, as property insurers and real estate interests attempt to induce government aid.
Uninsurability alone is not ground for rescinding an insurance policy.
This source of uninsurability can stem from asymmetric information between insureds and insurers.
Therefore, insurers might fare better in court if they used a less disingenuous justification, that is, if they defended primarily on the basis of cost effectiveness, or even granting cost effectiveness, on the basis of uninsurability. See infra text accompanying notes 156-58.
If a test revealed favorable results (e.g., HIV negative or the absence of the genetic defect causing Huntington's disease), the insurer would probably lower the premium, but unfavorable test results would result in a prohibitive premium or uninsurability. This classification lottery clearly is unattractive to risk averse consumers and might dissuade them from taking the test despite any medical or public health benefits.
Even if after trigger, the risk becomes uninsurable, this should have no effect on the triggered policy's responsibility to defend and indemnify the covered occurrence that predates the uninsurability. Whether subsequent insurance policies must pay is not so much a question of allocation as one of end point - at what point do coverage responsibilities end?
In any case, the potential uninsurability of the fines (arguably the highest potential exposure in the event of an enforcement action), or at least the present uncertainty as to whether the fines can be covered, may be a significant reason more companies are not turning to cyber insurance as a GDPR risk management tool.
However, term insurance can be made renewable and convertible to provide protection against the risk of uninsurability. That is one way a policy can fail, if it cannot be renewed.
However, term insurance can made renewable and convertible to provide protection against the risk of uninsurability. That is one way a policy can fail, if it cannot be renewed.