A risk that can be estimated and calculated to be compensation is?

Assessment: JAMB UTME - Commerce - 2009 Subject: Commerce

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A risk that can be estimated and calculated to be compensation is?
Answer Details
An insurable risk is a risk that can be estimated and calculated to be compensated for, usually through an insurance policy. This type of risk involves a potential loss or damage that can be financially quantified and transferred to an insurance company in exchange for a premium payment. Examples of insurable risks include fire, theft, and natural disasters, among others. By transferring the risk to an insurer, individuals and businesses can protect themselves against financial losses that may result from unexpected events.
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