Some risks are not serious enough to insure. True or false?
Understand the Problem
The question is asking whether it is true or false that some risks are not serious enough to be insured. It implies a consideration of what types of risks are typically covered by insurance policies and which ones are deemed too minimal or trivial for insurance to be applicable.
Answer
True
The statement 'Some risks are not serious enough to insure' is true.
Answer for screen readers
The statement 'Some risks are not serious enough to insure' is true.
More Information
Not all risks can be insured, especially if they are not serious enough. Insurance companies typically avoid insuring speculative risks or minor risks because these do not fit the criteria of insurability that make insurance economically viable.
Sources
- Some risks are not serious enough to insure - Quizlet - quizlet.com
- Elements of Insurable Risks: A Quick Guide - Investopedia - investopedia.com
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