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State with Reason Whether You Agree Or Disagree with the Following Statement. All Risks Are Insurable. - Economics

Short Note

State with reason whether you agree or disagree with the following statement.
All risks are insurable.

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Solution

No, the above statement is not true. This is because insurable risk refers to the risks which are insured by insurance companies. For instance, risks against fire, risks against sea perils etc. While, there are some risks which cannot be insured. These include risks arising out of a change in government policies, changes in the demand for a product etc. Hence, all risks are not insurable.

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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 7 Factors of Production
Exercise | Q 3 | Page 61
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