Insurable risk

             1.   Risks that can be insured are financial risk, pure risk &particular risk.

             2.   Financial risk: the outcome of risk that can be measured in monetary terms are known as financial risk. Some of the financial risks include loss of life, disease or disability, savings accumulation, retirement.

             3.   Pure risk: risks where there is no possibility of making a profit are called pure risk.  
4.   In pure risk, there is no possibility of benefit as a result of the insured event happening, the only possibility is loss or break even. Pure risk is associated with event which are totally out of control of individuals.

           5.   Particular risk: particular risk are personal or local in their effect and the consequences effect  and the consequences effect specific individual or local community.